Hammonds has bagged a plum instruction on one of the largest deals to hit the Yorkshire market after advising on the landmark £783m management buy-out of housing company Keepmoat.

The national firm acted for a management team led by chief executive David Blunt and three further company directors on their acquisition of Keepmoat, a regeneration and affordable housing specialist that operates the brands Bramall Construction, Frank Haslam Milan and Haslam Homes.

National private equity chief Jonathan Jones led the team for Hammonds with support from banking partner Richard Morton and solicitors Sian Humphries and Abbie Robinson.

Jones commented: "The fact that all the advisers were Yorkshire-based demonstrates the strength of the region's corporate finance sector. It was great to play a part in such a fantastic success story for the region."

The deal, which was announced last Friday (17 August), was funded through a debt and equity package provided by Bank of Scotland Integrated Finance. As part of the deal, the bank will become a minority shareholder in the company.

DLA Piper Sheffield corporate partner Andrew Morris acted for two of the exiting shareholders, while Eversheds advised Bank of Scotland. M&A partner Robin Johnson, who divides his time between Leeds and London, took the main role.

It is understood the management team at Keepmoat will use the buy-out as a springboard to grow the Doncaster-based company into a £1bn business as the Government ramps up investment in the affordable housing sector.