Property business merger creates £400 million company

Fri, 21 Jun 2019 | MERGER



A housing specialist that works on new and refurbished premises, and a utilities and property services company have merged to create a firm that boasts a combined turnover of more than £400 million.

United Living and Fastflow Group have merged to form one group, which will allow them to boost their presence and prominence in the property sector by increasing their maintenance and development capacities.

Chairman and chief executive of Fastflow Group, Neil Armstrong, is set to become the chief executive of the merged group, whilst United Living’s chief executive Ian Burnett steps down, but remains an adviser to the business.

Armstrong commented: "The reasons for combining these two great businesses are simple and compelling. The enlarged maintenance and new housing capability will benefit clients and our people, safeguarding jobs and providing more opportunities to progress within the group.

“By harnessing this commitment and talent and by working together, investing time and money to drive improvement, we will take the business to the next level.”

Burnett added: “Bringing the two businesses together will enhance the geographical coverage and offering for customers by providing a fully integrated service from development through to build and maintenance of the whole project.

“I look forward to continuing my involvement with the enlarged group as an adviser.”

As a result of the merger, the two businesses will have over 1,100 members of staff to its name, not including those working in the supply chain or as sub-contractors.

In 2018, the companies together finished 1,263 new homes, completed 29,895 planned maintenance jobs, and delivered on 47,100 short notice responsive repairs.

In spite of the merger, the two businesses will operate from their original headquarters, with Fastflow Group located in Washington, Tyne & Wear, and United Living based in Swanley, Kent.

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