North East utilities joins national housing specialist in £400m merger
Utilities and property services business Fastflow Group has announced it is merging with housing specialist United Living.
According to the newly-formed group, the merger will allow it to provide an enhanced maintenance and development capability in the property sector, and be better equipped to meet the ever-increasing UK demand for new and maintained housing.
Operating under one group, the firms will retain their separate brands and existing contracts, with Fastflow Group chairman and chief executive officer Neil Armstrong taking the role of chief executive officer of the enlarged group.
The combined headcount, not including sub-contractors/supply chain, will exceed 1,100 people, with an anticipated turnover for the group of £400m.
United Living’s chief executive officer Ian Burnett will step down but remain as an advisor to the merged group.
Commenting on the merger, CEO Neil Armstrong said: “The reasons for combining these two great businesses are simple and compelling.
“The enlarged maintenance and new housing capability will benefit clients and our people, safeguarding jobs and providing more opportunities to progress within the group.
“By harnessing this commitment and talent and by working together, investing time and money to drive improvement, we will take the business to the next level.”
Advisor and former United Living CEO, Ian Burnett, added: “United Living and Fastflow are both organisations with a strong history of excellent customer service and quality projects within the utilities services, social housing and residential markets.
“Bringing the two businesses together will enhance the geographical coverage and offering for customers by providing a fully integrated service from development through to build and maintenance of the whole project.”
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