<b></b>Beazer Partnerships boss John Cadwallader has led a management buyout of the firm, paying Persimmon &amp;£4.7 million for the social housing and prefabrication divisions. <br>Kier has invested &amp;£2.5 million in a 49% stake in the new holding company, Belan, which now owns both firms. The social housing arm will be called Partnerships First, while the prefabrication firm will keep the name Torwood.<p></p><p>The businesses have been up for sale since Persimmon bought Beazer at the beginning of the year, but Partnerships First will continue to meet part of Persimmon&amp;’s social housing requirements and Torwood will still supply timber frame under an agreement that runs until 2004.</p><p>&amp;“The prospects for both streams of the business look very positive,&amp;” said Cadwallader. &amp;“Funding for social housing is higher than it has been for many years and the market share for timber frame homes in the private sector is increasing while the more stringent Building Regulations on acoustics and thermal retention will lead to increasing demand for our Tee-U-Tec frames. In addition, the improvements in quality achieved through factory production will help offset a continuing decline in the availability of skilled labour.&amp;”</p><p>Belan is negotiating the renewal of its contract to supply and build timber frame homes …