Durham’s Fastflow Group has carried out a £400m merger, creating a new firm with more than 1,100 staff.
Utilities and property services firm Fastflow Group and refurbished housing specialist United Living have merged to broaden their reach across the property sector.
Fastflow specialises in the maintenance and design of pipelines in homes. The company employs over 600 people and its turnover comes in at £137m.
United Living brings new and refurbished homes to the market. It employs 540 people and has a turnover of £275m.
The enlarged group will retain its existing contracts with the two firms promising that its customers will be unaffected by the change.
Combining the companies will allow the group to expand its maintenance and development capability across the sector and allow it to be “better equipped” to meet the demand for well-maintained housing.
Ian Burnett, United Living’s CEO, will step down from his role but will continue to act as an adviser to the group. Meanwhile Fastflow’s chairman and CEO Neil Armstrong will lead the new company as its chief executive.
Mr Armstrong said: “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.
“At United Living, we see people with a shared ethic and common purpose, who are already delivering a best in class service. People who, like us, take their responsibilities to customers, residents, employees, the environment and communities in which they work very seriously.
“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.”
Fastflow has sites in Durham and Derby, while its DW Support Services business has a base in Oxford. The latter site has been contracted to carry out repairs for around 200,000 properties across the south of England. The company has also completed 2,00 new houses across 82 sites over the last seven years.
United Living has bases in Cardiff, Salford, Sheffield, Swanley and Wolverhampton.
Mr Burnett added: “United Living and Fastflow are both organisations with a strong history of excellent customer service and quality projects within the utilities services, social housing and residential markets.
“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 advisor.”
