Utility firm Fastflow buys affordable housing contractor

Aaron Morby 9 months ago
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Tyne and Wear utilities and property services specialist Fastflow Group has acquired affordable housing contractor Partner Group.

Combined business will employ a workforce of nearly 800

Based in the North East and with an office in Derby, Partner has delivered over 2,000 houses in the past seven years from on 82 sites across the UK. 

The combined business will provide work for almost 800 people and is forecast to push turnover well beyond the £120m mark in the next financial year.

Working mainly with registered social housing providers, Partner’s order book exceeded £100m in 2016-17 when it reported tripled profits to £1.7m. 

The Fastflow Group turnover in the same year was £79m, with a reported pre-tax profit of £9.3m and an order book of over £300m. 

From bases in Washington, Tyne and Wear and Warrington, Greater Manchester, Fastflow provides infrastructure maintenance and improvement services to Northumbrian Water and Scottish Water and a wide range of high pressure gas transmission engineering projects for clients such as National Grid and Cadent Gas.

From Thame, Oxfordshire it delivers planned and responsive repairs for housing associations owning around 200,000 homes across the south of England. 

Last March, Fastflow Group secured significant capital backing from Elysian Capital to support its growth plans.

Fastflow Group, chief executive officer, Neil Armstrong, said: “As well as growing our overall business, this deepening focus on the affordable housing sector hugely adds to the offer we have for property providers. 

“For customers whose homes we currently maintain and repair, we can now help to deliver new build housing targets. With our support, Partner can increase its service offer with additional capacity for new housing, backed by high quality, focused, maintenance and repair programmes.”

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