Simons Group announces new investment in bloc
Simons Group has today, alongside its European partner Groupe IDEC, announced an equal joint investment in the partnership development company, bloc.
The announcement follows news earlier this year that Groupe IDEC had purchased a minority share in Simons, a deal which reinforced a commitment by both businesses to work together on customer opportunities and expand their offering both in the UK and internationally.
That deal paved the way for the investment in bloc, with the Simons Developments team playing a leading role in negotiations.
Paul Hodgkinson, Simons Group Chairman, said: “This is a tremendously exciting and positive step for our business. Simons Group has known the bloc team for several years and has been consistently impressed by its ability to deliver successful, complex deals with openness and integrity.
“bloc’s partnership model for multi-site Joint Ventures has increasing traction and fits Simons’ own approach to collaborative working within our national construction and development teams,” he said.
bloc has ongoing multi-site partnerships with the Canal and River Trust and Network Rail and has a self-build infrastructure delivery company, Plotbuild. bloc’s developments provide for the PRS/Build to Rent sectors, Budget Hotels, Mixed Use and self-build infrastructure. Simons and Groupe IDEC bring extensive industry contacts and experience to bloc and, together, Simons’ relationships with IDEC and bloc provide exciting and sustainable opportunities for growth.