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19/11/2018
Mears To Acquire Mitie Social Housing Business
Mears is to acquire Mitie's social housing business in a £35 million deal.
The deal, which is expected to be conclude this month, involves the sale of Mitie Property Management Limited and MPS Housing Limited (together, 'MPM').
MPM is a leading provider of property repairs and maintenance services to the social housing sector, employing over 1,000 people and providing property services to over 30 social housing providers in the UK.
Phil Bentley, Chief Executive Officer, Mitie, said: "Mitie's strategy is to focus on its core businesses and core clients, where service delivery and margin can be enhanced by the use of technology to deliver the critical environment reliability and cost efficiency that our clients increasingly demand from their 'Connected Workspace'.
"MPM is a specialist provider of repairs and maintenance services to the social housing sector. The sale of MPM to Mears will allow Mitie to continue to focus and build scale in its core businesses. Mears is highly regarded in the social housing sector and has the specialist skills required to deliver to its client base."
MPM's Managing Director, Vicky Fordham-Lewis, will remain as a Managing Director as part of Mears' enlarged operations.
(CM/MH)
The deal, which is expected to be conclude this month, involves the sale of Mitie Property Management Limited and MPS Housing Limited (together, 'MPM').
MPM is a leading provider of property repairs and maintenance services to the social housing sector, employing over 1,000 people and providing property services to over 30 social housing providers in the UK.
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Phil Bentley, Chief Executive Officer, Mitie, said: "Mitie's strategy is to focus on its core businesses and core clients, where service delivery and margin can be enhanced by the use of technology to deliver the critical environment reliability and cost efficiency that our clients increasingly demand from their 'Connected Workspace'.
"MPM is a specialist provider of repairs and maintenance services to the social housing sector. The sale of MPM to Mears will allow Mitie to continue to focus and build scale in its core businesses. Mears is highly regarded in the social housing sector and has the specialist skills required to deliver to its client base."
MPM's Managing Director, Vicky Fordham-Lewis, will remain as a Managing Director as part of Mears' enlarged operations.
(CM/MH)
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