Gloucestershire’s Mears Group '£35m' deal for Mitie social housing arm

Published by

Nicky Godding

Mears Group in £35m deal to acquire social housing arm of Mitie PLC

Mitie PLC has sold the housing activities arm of its business to Gloucestershire-based Mears Group PLC.

In a deal reported to be worth £35m, the housing work of Mitie Property Services (MPS UK) will transfer to a new company called MPS Housing Limited.

The acquisition is expected to be completed by November 30 and 1,000 staff are due to join the Mears Group as a result.

The business has more than 30 clients providing services such as repairs to social housing providers.

Mears Group, which has its headquarters in Brockworth, carried out repair work to local authorities and registered social landlords with a portfolio of more than 1m homes across the country. More than 6,000 repairs are conducted daily by the group.

Mears' chief executive David Miles added: "I am delighted with the acquisition of Mitie Housing which will further strengthen Mears' market leadership and contract profile in social housing.

"Given our strong operational platform and differentiated service delivery, together with our proven ability to turn around underperforming businesses, I am confident that we will deliver significant improvements to Mitie Housing's contracts, customers, tenants and employees."

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.