Travers Smith has advised the shareholders of Banner Homes, Prowting Family Trust and Management, on its sale to Cala Homes for an undisclosed sum.

The combined Cala and Banner Homes business will directly employ more than 600 people and have a turnover of more than £500m in its first full year, with net assets of £200m.  In the longer term, the company expect to deliver about 2,000 homes annually by 2017.

The Travers Smith team was led by corporate partner Andrew Gillen supported by corporate associates Tamara Kilner and Hugh Hutchison, head of real estate Julian Bass and real estate senior associate Emma Sadler.

Travers Smith has acted for long-term client Banner Homes since 1999.