Springfield Properties to acquire the Scottish housebuilding business of Mactaggart & Mickel for $57m.

Springfield Properties, a housebuilder, agreed to acquire the Scottish housebuilding business of Mactaggart & Mickel, a family-owned home builder, for $57m. "We are very pleased to welcome Mactaggart & Mickel's Scottish housebuilding business into the Springfield Group. As well as bringing another premium brand into the group, this acquisition gives us land, with planning permission, in areas of significant demand. The structure of the acquisition - with the majority of the payment to be made as homes are completed - de-risks the deal and creates an effective and efficient means of acquiring land," Innes Smith, Springfield Properties CEO.