FAMILY building business Yelcon Homes, which was founded in Huntingdon 55 years ago, has acquired another Cambridgeshire building company. But it is very much a family affair. Yelcon was founded by Raymond Rapley in 1952, and his son Martin is now managin
FAMILY building business Yelcon Homes, which was founded in Huntingdon 55 years ago, has acquired another Cambridgeshire building company.
But it is very much a family affair. Yelcon was founded by Raymond Rapley in 1952, and his son Martin is now managing director. The business he has acquired for a "substantial" but undisclosed sum belonged to his brother David.
David Rapley, founder and former sole shareholder of Camstead Ltd, based at Hardwick, near Cambourne - as Yelcon also now is - said: "As Yelcon is also a very successful housebuilder, the two companies are a natural fit. It is a bonus to be able to keep Camstead in the family.
"I have put the last 12 years of my professional life into Camstead, so it is very important for me to see it stay in safe and sympathetic hands. I have been approached by a number of developers and housebuilders to acquire Camstead over the years, but I decided to sell only when the opportunity arose to sell Camstead to Yelcon. The sale will enable Camstead to access increased funding, be more ambitious and take on larger and more complex schemes."
Yelcon's MD Martin Rapley has built his reputation with major mixed use and commercial schemes, mainly in the north. Under the banner of Scotfield Ltd, he is now leading the development of The Gateway in Leeds, a 1 million sq ft, £150million, mixed-use scheme, one of the north's largest ever regeneration projects.
"Cambridge continues to be, a fantastic location for new homes, and David's company has built an enviable reputation in developing prestigious residential schemes in that market," he said. "This purchase is a great opportunity for Yelcon to share in the growth of the Cambridge and eastern region new homes markets."
Camstead has enjoyed solid growth over the last few years with a current development programme of over 250 plots in prime locations across East Anglia.
David Rapley is no longer a director of Camstead and is no longer working with the company, having decided to pursue other local business interests.