Enfield-based Linbrook has an annual turnover of £50m and contracts covering more than 100,000 properties, predominantly in the London and the northern Home Counties. It has more than 450 employees.
Linbrook will become a new division of Wates Living Space, which currently builds or refurbishes approximately 30,000 homes a year on more than 73 affordable housing frameworks.
Wates said that the acquisition put it “at the forefront of the UK’s affordable housing market”, bolting on maintenance capability to its construction experience.
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.”
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.”
Wates Group chairman and CEO Paul Drechsler added: “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.”
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