The change of ownership is effective immediately.
The Purchase Group is a family-owned construction business that focuses on the provision of responsive and planned maintenance services, and green technologies, to housing association and local authority clients in the affordable housing sector in the Midlands and Wales.
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The company's headquarters is located in Walsall, however the business has a network of offices across the East and West Midlands, and Wales.
David Purchase, Managing Director of the Purchase Group, commented: "This is an exciting and positive step forward for our business and our people, providing us with the investment and support of a highly respected industry player, which will facilitate future growth within the market.
"Wates commitment to people and communities is rivaled only by that of our own and it is these shared ethics that will place us as the partner of choice in the affordable housing sector.
"Together we can offer a compelling proposition to clients and customers in the Midlands and Wales, for their full range of maintenance needs."
(CD/JP)
