LONDON: Mears Group PLC, the leading provider of services to the Housing sector in the UK, has disposed of its subsidiary, Morrison Facilities Services Limited, a business delivering Facilities Management services, predominantly in the education and health sectors. Following the strategic update, this business was identified as non-core to the Group and has been the subject of a competitive sales process.
The sale is for a total consideration of £18.0m, settled in cash on completion. The business was sold on a debt and cash-free basis, and with a normal level of working capital. In the financial year ended 31 December 2025, the Group’s FM activities reported revenue and profit before tax of £32.1m and £2.8m respectively, and these activities were previously reported within the Maintenance-led segment.
Lucas Critchley, Chief Executive Officer, said: “I am pleased to complete this transaction, which brings a further simplification to the Group and is further progress against our strategic plan, reinforcing our focus to delivering housing services, a market in which we continue to see significant growth opportunities driven by strong regulatory drivers. I would like to place on record my thanks to the Morrison team, and we wish them well under new ownership.”