FPM is a property services company working in the affordable housing and public property sectors in Cambridgeshire, Lincolnshire, Norfolk and Suffolk.
The deal will see FPM’s £50m business integrated into Lakehouse’s existing operations and will boost the company’s staff numbers to more than 900.
FPM Managing Director Steven Foster will remain with the company when ownership formally transfers to Lakehouse.
The acquisition follows Lakehouse’s successful purchase and integration of K&T Heating Services in October 2011 and Allied Protection, a fire detection and alarm systems provider, in November 2012.
Stuart Black, Executive Chairman at Lakehouse said: “We’re thrilled to be able to incorporate a highly-respected business like Foster Property Maintenance into Lakehouse.
“FPM extends our geographic reach and strengthens our maintenance capability.
“We believe this is a further step to creating a larger more sustainable business and we’re very excited by the opportunity it creates.”
Steven Foster, Managing Director of Foster Property Maintenance said: “We’ve experienced great success to date, thanks to our loyal customers and dedicated staff, but we know we can achieve much more as part of a larger organisation.
“We have similar clients and a strong mutual desire to deliver a best in class service for our customers.
“We are very excited about all the opportunities that working with Lakehouse will bring.”
Lakehouse is forecasting a turnover of £194m for the current financial year.