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

Mears

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.”