The firm has an annual turnover of £30m and 120 direct employees.

Wates refused to reveal how much it had paid for business which has a history dating back nearly 100 years.

Purchase focuses on the provision of responsive and planned maintenance services to housing association and local authority clients in the affordable housing sector in the Midlands and Wales.

Wates said it has a long-term growth strategy to develop its maintenance proposition nationwide following the acquisition of Linbrook in 2011.

Andrew Davies, Chief Executive of the Wates Group, commented: “Today’s acquisition brings us even closer to achieving our aspirations of becoming the UK’s leading maintenance business”

David Purchase, Managing Director of the Purchase Group said: “This is an exciting and positive step forward for our business and our people, providing us with the investment and support of a highly respected industry player, which will facilitate future growth within the market.

“Wates’ commitment to people and communities is rivaled only by that of our own and it is these shared ethics that will place us as the partner of choice in the affordable housing sector.

“Together we can offer a compelling proposition to clients and customers in the Midlands, Wales and the North, for their full range of maintenance needs.”

Purchase will continue to operate under its existing name in the short-term as part of Wates Living Space.