The company’s businesses will operate under Vistry Group while maintaining both the Bovis Homes and Linden Homes brand names.
Graham Prothero, who was CEO of Galliford Try, has been appointed as chief operating officer of Vistry Group.
Greg Fitzgerald, CEO of Bovis Homes, said: “I am delighted that we have completed the exciting and transformational acquisition of the Linden Homes and Partnerships & Regeneration businesses of Galliford Try.
“The combination of these businesses with Bovis Homes creates a top-five housebuilder in the UK with the capacity to deliver over 12,000 homes per year in the medium term. It also gives us a leading position in the high-growth, more resilient partnerships market.”
He added: “Within the enlarged business, our commitment to ensuring the highest levels of build quality and customer satisfaction will remain central to everything we do.”
In 2017, Bovis rejected merger bids from Galliford Try and Redrow following a tough previous year for the company where it faced criticism for selling unfinished homes.
The housebuilder was accused of offering buyers cash bonuses of up to £3,000 to complete on or move into unfinished properties before 23 December 2016.
New CEO for Galliford
Bill Hocking, who previously led Galliford Try’s construction and investments division, has been confirmed as Prothero’s replacement.
Peter Ventress, chairman of Galliford Try, said: “The completion of the corporate transaction transforms Galliford Try into a well-capitalised, standalone construction-focused group. On behalf of the board, I thank Graham for his contribution to the group and the transaction and wish him well in his new role.
“Bill was appointed to the executive board as managing director of construction in September 2015 and has led the construction and investments division of Galliford Try as chief executive since August 2016. On behalf of the board, I congratulate Bill on his appointment as chief executive of Galliford Try.”
Hocking added: “I am excited by my appointment and the opportunity to lead our UK construction-focused group which is strongly positioned for future growth.
“I am particularly looking forward to working with the group’s highly experienced senior management team focusing on optimising the operational performance of the business.”
