Mears is pleased to announce that it has been notified today by Family Mosaic that they have agreed, subject to the completion of the standstill period, to appoint Mears as preferred bidder.  The value of the award is £300 million for a ten year period.

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As a leading social housing repairs and maintenance provider in the UK, Mears provides rapid response and planned maintenance services to Local Authorities and registered Social Landlords. We deliver in excess of 3,000 repairs every day and to a portfolio of over 500,000 houses nationwide. As the UK’s fastest growing national domiciliary care provider, Mears Care delivers over 7,800,000 hours of care per annum from a network of branches working with over 75 Local Authorities and Primary Care Trusts.

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Following the brief statement made by Mears after the market closed on Friday 25 June the Company is pleased to reiterate that it is continuing to deliver strong trading across all divisions and is not experiencing any downward pressure on spend in its social housing business. Current trading and strong cash conversion for the year are in line with management expectations.

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