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Wates Group acquires Shepherd FM

01 October 2015

Family-owned construction and property services company, the Wates Group, has reached an agreement to acquire Shepherd FM

The deal will see Shepherd FM’s immediate integration into Wates Smartspace, extending and complementing Wates’ existing property services capabilities for the non-housing market.

Shepherd FM’s portfolio will accompany Smartspace’s existing client base, which includes Lloyds Banking Group, Royal Mail, Parcelforce, M&S and retail landlords British Land and Land Securities, resulting in more than 1,500 projects delivered in 2014.

Shepherd Engineering Services (SES) has also been acquired, with a significant number of contracts and strategic frameworks from Shepherd Construction Limited concluding the deal. 

Helen Bunch, Managing Director of Wates Smartspace, commented: “The acquisition of Shepherd FM sees a joining of two businesses with complementary capabilities.

“Our organisations’ combined project portfolio and reputable service offer significantly enhance our expertise in the provision of exceptional property services.

“We are now preparing to welcome our new Shepherd colleagues to the Smartspace business and I am very much looking forward to working with Noel and his team. Our immediate priority is to ensure the engagement and alignment of all our people, while remaining focused on maintaining our collective reputation for excellent customer service.”

Forming part of the Wates Group’s strategic growth plans to double turnover to £2bn, the agreement builds on the success of the Group’s acquisition of Walsall-based Purchase Group in November 2014. This investment saw Wates end the year with a bolstered northern housing maintenance division to complement its southern offering, following the 2011 acquisition of Enfield-based Linbrook.

Wates Group is already accelerating towards its ambitious turnover target, with a focus on existing core markets propelling work-in-hand to its highest in five years and a forward order book of £3bn - up 50 per cent on last year.

Today’s announcement follows the agreement of Heads of Terms in May, with the two businesses commencing sale discussions in December 2014. 

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