Respected housing professionals join Jessup’s leadership team following investment from Palatine
Jessup has today announced that it has secured a major investment from leading mid-market private equity investor Palatine.
The agreement brings new skills and resources to Jessup, enhancing its ability to support its customer base of local authorities and registered providers to unlock new opportunities for Brownfield housing development, to innovate in sustainable construction, and to target more land-led opportunities across the East and West Midlands.
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.
Palatine, which has a long term presence in the Midlands, previously invested in house builder Westleigh, helping to grow the business before its sale to Countryside PLC in 2018.
Chris Beighton and Matt Moore bring a combined 50 years’ experience in the house building sector to Jessup’s leadership team and industry-leading expertise in modern methods of construction (MMC), having pioneered the adoption of timber frame construction in the affordable housing sector while part of Westleigh.
The investment provides Jessup with a solid platform for growth in developing its existing West Midlands operation and expanding into the East Midlands, as well as exciting new opportunities for its 92-strong team and local supply chain partners.
Jessup will also benefit from Palatine’s industry-leading approach to sustainability which has seen it place environmental, social and governance factors as central to its value enhancement strategy for more than a decade, through an award-winning ESG framework.
Clive Jessup, Founder Director at Jessup, said: “The backing of an investor with an excellent track record in our market coupled with and the addition of three highly experienced housing professionals to our leadership team, represents the start of an exciting new period of opportunity for Jessup, our fantastic team and our valued customers and suppliers.
“Palatine have a deep understanding of our market and the expertise to further develop our already strong ESG credentials, at a time when this is of growing importance to our customers across the public and social housing sectors.”
Chris Beighton, Chairman of Jessup, said: “Jessup has an excellent reputation in the Midlands market, and a unique breadth and depth of knowledge of the funding environment. This investment will enable us to continue to innovate in MMC, unlock new opportunities for Brownfield development and grow our footprint through targeted land-led opportunities in the East Midlands.
“I’m excited to join the already strong leadership of the business and to once again be working with Matt Moore. Kathryn Facey and Palatine, who I know first-hand to be a collaborative and supportive growth partner.”
Richard Thomas, Partner and head of Palatine’s Midlands office, added: “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.”
Established for 34 years, Jessup 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. The business currently delivers approximately 500 homes per year and has diversified into mixed-use development for customers including the YMCA.