Mears Group PLC has reached agreement to buy the housing related activities of Mitie PLC.
This acquisition has many benefits for the Mears Group, most notably further building our leadership in the Repairs and Maintenance market and bringing together innovation and best practice for the benefit of clients, tenants and staff.
Initially, the Housing activities of Mitie Property Services (MPS UK) will transfer to a new company. The new company will be called MPS Housing Limited.
This initial transfer is to enable Mears to buy just the housing services, while other parts of MPS UK will remain with Mitie. We expect this transaction to complete on the 30th of November.
We will welcome 1000 staff to the Mears Group, across 14 branches and over 30 clients.
David Miles Group Chief Executive comments:
I am delighted with the acquisition of MPS Housing Limited 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 contracts, customers, tenants and employees.