Housebuilder backed with £15 million investment

A housebuilder says it is digging growth foundations after securing £15 million investment.

Cruden has been backed by BGF.

The Edinburgh-headquartered builder says the support will “accelerate its development programme, bring forward major sites and unlock new projects”.

Bosses add the deal will support senior leadership changes, with Fraser Lynes stepping up to chief executive alongside chief finance officer Euan Haggerty, and executive chair Kevin Reid and group managing director Steven Simpson switching to non-executive director roles.

John Cassie, former Persimmon regional chair, will join Cruden’s board as non-executive chair.

Founded more than 80 years ago, Cruden has built more than 135,000 homes, and has developments in Edinburgh, Glasgow, East and West Lothian and Renfrewshire.

Fraser said: “We’re immensely proud of Cruden’s heritage, but our focus is firmly on the future.

“BGF’s backing is a powerful endorsement of our strategy and unlocks major opportunities.

“With this support, we can move faster, build more and deliver sustainable communities at scale.”

Richard Pugh, BGF investor, added: “Cruden’s enviable track record, strong leadership team and award-winning approach stood out from the start.

“We’re looking forward to working with the team to support their clear growth strategy and invest in a business that can help deliver the homes Scotland urgently needs.”

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