Fastflow currently looks after homes in North-east
Fastflow, the Tyne & Wear-based utilities and property services group, has acquired Partner Construction, a specialist in building affordable housing, for an undisclosed sum.
Fastflow, which operates pipeline, energy and support divisions, was itself bought in March last year by private equity firm Elysian Capital.
Fastflow’s chief executive Neil Armstrong, said Partner could increase its service offer with additional capacity for new housing, “backed by high quality, focused, maintenance and repair programmes.
“For customers whose homes we currently maintain and repair, we can now help to deliver new build housing targets. With our support, Partner can increase its service offer with additional capacity for new housing.”
In the year to the end of March 2017, Partner, which is based in Spennymoor, County Durham, posted a pre-tax profit of £1.7m on turnover of £36m. In the same period, Fastflow recorded a pre-tax profit of £9.3m on turnover of £79m.