A family owned housebuilder has become the first company in Northern Ireland to secure investment from BGF.
For more than 40 years, Braidwater has been designing and building high quality two to five bed family homes across Northern Ireland, with a strong focus on design and building efficiency. The business is run by founder and Executive Chairman Patrick McGinnis and his son, Managing Director Joe McGinnis.
The growth capital investment will be used to support the development of residential properties across existing sites and provide Braidwater with long term strength to deliver on its commitments, helping it to address the shortage of new build houses in Northern Ireland. Four developments are currently underway at Bedford Meadows, Antrim, Drenagh Park, Limavady, Leighinmohr Crescent, Ballymena and Fort Manor, Dundonald, with two more projects due to commence shortly.
Mike Stansfield, former CEO of David Wilson Homes, has been appointed by Braidwater as an independent Non-Executive Chairman following an introduction made by BGF. Paddy Graham, BGF investor, and Ciaran McGivern, former Head of Business Banking with Bank of Ireland NI, will also join the board of the company. Following the deal, Braidwater’s social housing division will become a separate family company, BW Limited, which will continue to undertake project management and construction in the social housing sector.