Clearwater advises Jessup on its investment from Palatine

Transaction

Jessup on its investment from Palatine

Sell-side

Undisclosed

Role

Adviser to Jessup on its investment from Palatine

Sector

Business Services

Region

United Kingdom

Clearwater has advised Jessup, one of the Midlands’ most respected developers of affordable homes on its investment from private equity firm Palatine.

Established for 34 years, Staffordshire-based Jessup is a trusted partner to local authorities and registered providers of social housing. Its 92-strong team provides a full development management service from land acquisition and planning consent, through to the construction of high-quality residential stock, and it has preferred partner status with Homes England.

As part of the transaction, former Westleigh founder Chris Beighton, Director Matt Moore and CFO Kathryn Facey have joined Jessup’s leadership team as Chairman, CEO and Non-Executive Director respectively. Jessup founder Clive Jessup retains a stake in the business as Founder Director and the deal also sees Palatine Partner Richard Thomas and Investment Director Tom Hustler join the board as Non-Executive Directors.

The investment, from Palatine’s Buyout Fund, provides Jessup with a solid platform for growth as it targets expansion into the East Midlands as well as continuing to develop its existing West Midlands operation. The business currently delivers approximately 500 homes per year and has diversified into mixed-use development for customers including the YMCA.

Selling a business is likely to be a once in a lifetime event. In doing so, you need to have advisors who understand your emotions, are able to draw upon a highly skilled team of advisors for tax, legal, accountancy and find you the correct buyer and deliver the right deal. I have found an excellent partner in Clearwater. The team have provided close support and advice throughout the whole process, and they had a depth of industry knowledge to guide me and my team throughout the process.
Clive Jessup, Founder, Jessup

Jessup has an outstanding reputation in the region and with this further investment from Palatine, the business is well-positioned for continued growth in the marketplace. It was a pleasure to work with Clive and the team to secure a great result. After advising Westleigh on its deal with Palatine in 2016 and the sale to Countryside in 2018, we know the experience that Chris, Matt and Kathryn will bring to Jessup and we’re confident that they will complement the strong platform Clive has created. We’d like to wish the entire team all the best.
Rob Burden, Partner, Clearwater

Clive and his team have grown Jessup into a trusted, valued and longstanding partner to housing providers in the Midlands with an enviable reputation for quality and delivery. With growing demand for affordable homes, our backing will enable Jessup to support more local authorities and registered providers as they seek to ease the housing crisis, further demonstrating the positive impact private equity can have on the economy and society.
Richard Thomas, Partner, Palatine