Redrow founder’s move for McLean

Nov 21 2008 by Tony McDonough, Liverpool Daily Post

LIVERPOOL-BORN business tycoon Steve Morgan tried to buy part of Deeside-based David McLean Group after it slid into administration, the Liverpool Daily Post can reveal.

Mr Morgan, who once made an unsuccessful takeover bid for Liverpool Football Club and is best known as founder of Flintshire-based building giant Redrow, is believed to have tabled a bid of less than £30m for the homes division.

But the move was thwarted when the administrators accepted an alternative offer from a new company, Elan Homes, which is taking on 90 of the former David McLean staff.

Elan Homes is led by the former senior management team of David McLean Homes and backed by Barclays Bank.

The David McLean group, which operated as a house builder, building contractor and property developer, was said by the administrators to have estimated debts of up to £100m.