Wed, 02 Oct 2024 | BUSINESS SALE
Liberty, the property services business of ForHousing, is set to be acquired by construction, development and property service company Wates Group. Liberty is a specialist in domestic property repair, maintenance, heating and compliance.
Following the acquisition, the company will become part of Wates Property Services business. More than 1,000 staff will join Wates through the deal, taking the group’s employee headcount to a high of more than 6,000.
Post-sale, Liberty will continue to trade under its own name as part of the Wates Property Services business, providing its usual property repair, maintenance, heating and compliance services to customers, in addition to working on construction and decarbonisation projects.
Wates Executive Managing Director David Morgan said that the group had been “actively seeking a specialist property support business to expand and strengthen our existing expertise in the social housing sector, and extend our range of services into the areas of heating and compliance, as well as renewable energy services.”
Discussing the acquisition of Liberty, Morgan said that Wates had “found the strategic fit we were looking for”. Wates Group Chief Executive Eoghan O’Lionaird said that an important aspect of the deal was that the two companies “are both purpose-driven businesses.”
Liberty Group Managing Director Ray Jones said that joining Wates would enable the company to “enter the next stage of our growth and development.”
He continued: “Our combined service provision brings a stronger offer to both existing and potential clients, especially in property and renewable energy decarbonisation; services to which Liberty and Wates are strongly connected.”
"This new step forward will ensure continued high-quality services for Liberty's current clients and their tenants, as well as an exciting future for Liberty and Wates and our people."
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