The Wates Group has today announced the acquisition of responsive repairs, maintenance and refurbishment provider Linbrook Services to complement its affordable housing offering.
The £50 million turnover company has contracts covering 100,000 properties and will become a new division of Wates Living Space, the group’s house building and refurbishment arm.
The company did not reveal the value of the deal.
Wates Living Space managing director Ian Burnett said: ““We are delighted to be joining forces with the Linbrook team to achieve Wates Living Space‘s vision to be the leading provider of affordable housing in the UK.
“The acquisition not only offers us the exciting opportunity to grow into new markets, but will also benefit our customers, who will be able to access a fully integrated, cost-efficient service, all under the one roof.”
Wates believes the acquisition will allow it to expand into providing response services to non-housing market sectors including education, rail and the public sector property portfolio.
Wates group chairman and chief executive Paul Drechsler said: “Wates is always looking at where we can add value for our customers, and joining with Linbrook offers us the opportunity to harness a new set of skills and expertise.
“This move puts Wates Living Space on track towards achieving significant growth in an important market.”
Linbrook Services managing director Graham Scott said: “Like Wates, Linbrook is a successful, people-focused business, with a positive culture and emphasis on delivering a first-class service to customers.
“We’re excited about becoming part of a company which shares our values, and look forward to using over forty years’ experience in the response services market to support Wates Living Space’s strategic expansion objectives. “