Clearwater International advises Jessup on its investment from Palatine
Clearwater International 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.