Building group McInerney has expanded its UK operations with the acquisition of Bowey Homes, which builds houses in the north-east of England.
McInerney is paying €34.5m and is also taking on debt of €10m for Bowey, which specialises in developing a mix of brownfield and greenfield sites.
Its activities are focused on providing homes for the owner occupier market. Bowey reported pre-tax profits of €5.6m for the year to the end of October last year.
McInerney managing director Barry O'Connor said the buy would significantly increase its area of operation in the north-east and would boost earnings from the start.
