October 15, 2014
Mears, the support services group to the UK’s Social Housing and Care sectors, is pleased to announce the acquisition of Omega Group for an initial consideration of £20 million. Omega is a leading provider of residential lettings and management services, providing around 1,700 properties to 24 Local Authorities and Housing Associations. The majority of lettings are within London although Omega has recently won a significant contract with Birmingham City Council to provide lettings, housing management and temporary accommodation services.
Omega which was founded in 1998 was a family owned and run business. The management team will remain with the business to ensure continuity of service for existing clients. The acquisition aims to add value to Mears’ existing clients struggling with housing supply by offering best value temporary accommodation and housing management services.
Commenting on the acquisition, David Miles, Chief Executive of Mears, said:
“I am delighted to welcome Omega to the Mears family. The shortage of safe and secure housing is a significant challenge faced by many local authorities who can struggle finding homes of a consistent and uniform standard.
“By adding temporary accommodation and housing management to our social housing, new build and energy services, Mears now offers social landlords a full spectrum suite of services which are responsive to the growing demands faced by the sector.
“I have been impressed by the quality of the Omega management team who appear to have a strong cultural fit to Mears. I welcome the Omega team to the Mears Group.”