Wates snaps up 1,100-staff social housing upgrade contractor

Aaron Morby 9 months ago
Share

Wates has struck a deal with the social housing provider ForHousing to buy its in-house £100m-plus revenue repair and maintenance specialist Liberty.

The property maintenance specialist brings a strong heating and compliance skills base. Its 1,100 staff will join the Wates Property Services team of 1,900 staff.

The expanded property services division will now account for half of the 6,000 staff Wates Group employs.

Liberty is headquartered in Knowsley, Merseyside, and has five other core centres of operation: Manchester, Leeds, Portsmouth, Havant and Cardiff.

Its last published accounts reveal the firm generated a £1m pre-tax profit from around £109m turnover.

Wates managing director David Morgan said: “We’ve 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.

“In Liberty, we’ve found the strategic fit we were looking for, so I’m delighted to be able to make this announcement.”

Group managing director of Liberty, Ray Jones, said: “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.”

Liberty will continue to trade under its own name as part of Wates Property Services.

 

Latest news

Lords launch inquiry into Building Safety Regulator delays

Industry asked for evidence of how system is failing: Have your say
7 hours ago

Mark Wild radical reset plan to rescue HS2

Senior manager bonuses scrapped and non-permanent labour cutback
59 minutes ago

HS2 supply chain fraud claims spark ministerial probe

Transport secretary pledges one-year reset for HS2 to end 'litany of failures'
16 hours ago

Willmott Dixon director becomes co-owner of local contractor BSN

Nick Gibb targets £100m turnover at Dudley based national contractor
16 hours ago

Take That brother buys steelwork giant William Hare

Entrepreneur Simon Orange seals deal for £350m turnover contractor
2 days ago

Civils contractor LF Solutions files administration notice

£20m-turnover specialist has labour supply arm and own plant fleet
23 hours ago

Keltbray strikes £30m funding deal for growth

Three-year funding deal to support push into higher-margin work
22 hours ago

Joseph Gallagher lands £50m green energy deal

Major trenchless construction contract for HyNet North West project
23 hours ago

New boss drives NG Bailey to record revenue

Fresh strategy lifts M&E group's order book to £1.6bn
1 day ago

Costain wins vast underground hydrogen storage design job

Firms lands FEED contract for Cheshire salt caverns conversion
23 hours ago

Graham gets green light for £70m Glasgow student tower

Construction due to start this year on 25-storey Anderston scheme
22 hours ago

New £16bn National Housing Bank to drive 500k new builds

Homes England given new powers to finance stalled and complex schemes
1 day ago

Morgan Sindall upgrades profits forecast for this year

Overbury fitout and construction operations exceed trading expectations
2 days ago

Major project bidders to face ‘British jobs’ test

Contractors to face tougher jobs pledge scrutiny under new procurement shake-up
3 days ago

Green light for £32m Wythenshawe Culture Hub

Construction to start this year on first phase of £500m town centre revamp
2 days ago

Hercules delivers record first half as HS2 fuels growth

Labour supply specialist says HS2 demand climbing with 630 workers now deployed
2 days ago

Private equity firm acquires Hepworth Clay pipes business

Historic UK drainage manufacturer sold by Wavin
2 days ago

Balfour Beatty names new Scottish MD

Nick Rowan to take reins as Hector MacAulay to retire after 40 years
3 days ago

£500m rail deal locks in future for Scunthorpe steelworks

Government-backed deal with Network Rail safeguards UK production
2 days ago

Morrison rides in for £19m mountain bike R&D hub

Flagship Borders cycling R&D hub set for Caerlee Mill site
3 days ago

Revised plan submitted for Manchester landmark towers

400 more flats added to Albert Bridge House scheme
3 days ago

Job losses loom at consultant GHD

Redundancy consultation underway with jobs at risk
3 days ago

Knight Harwood lifts margin to 4.9% as profit hits £6.5m

London specialist sees strong office and luxury resi pipeline
3 days ago

Hampshire launches £150m minor works reboot

General builders, M&E and roofing firms invited to apply
3 days ago

Winners named for £2.6bn NHS SBS Modular 3 framework

Twenty-seven secure spots on health, education and resi framework
6 days ago

Leeds kicks off homes vision for Elland Road regeneration

Council plans to deliver 2,000 homes around United’s revamped stadium
6 days ago

Former Mace deputy chairman Mark Holmes awarded CBE

King's Birthday Honours spotlights industry's architecture and environment achievements
3 days ago

Britcon targets £70m turnover after string of framework wins

Major AMP8 win and regional expansion fuel contractor’s biggest growth push yet
6 days ago

Go-ahead for 37-storey tower at Leeds Merrion Centre

Town Centre Securities to deliver over 1,000 student rooms
6 days ago

Taylor Wimpey fined £800k after apprentice falls down stairwell

Teenage brickie injured after falling with pile of concrete blocks
7 days ago

Contractor services