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Wates has completed negotiations with social housing provider, ForHousing, for the acquisition of its property services business, Liberty.
As a specialist in domestic property repair and maintenance, as well as heating and compliance, Liberty will continue to trade under its own name as part of Wates Property Services, whilst also ensuring high-quality service delivery for its clients and their customers, covering property repairs, maintenance, heating and compliance services, as well as construction and decarbonisation projects.
The acquisition supports Wates’s expansion into the heating and compliance market, as well renewable energy services and will see some 1,100 people joining Wates, taking its employee base to a high of over 6,000.
Commenting on the acquisition, David Morgan, Executive Managing Director of Wates Property Services, 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, commented: “By joining Wates, we enter the next stage of our growth and development. 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. This new step forward will ensure continued high-quality services for Liberty’s current clients and their tenants, as well as an exciting future for Liberty and Wates and our people.”
