Private equity business Apollo Global Management has signed a definitive deal to acquire British affordable housing expert United Living Group.
The deal was executed through Apollo’s ‘Impact’ fund, which aims to offer a positive, measurable social and environmental impact.
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United Living offers essential infrastructure, social housing maintenance and construction services, with a focus on boosting affordable housing access for underprivileged people.
It operates across the three pillars of infrastructure, new homes and property services, with more than 1,000 employees.
United Living also offers essential services to UK utility infrastructure and property assets owners and is said to have blue-chip corporate and government entities in its client list.
United Living’s founder, CEO and chair Neil Armstrong said: “We see significant opportunities to further improve access to high-quality affordable housing and critical infrastructure across the UK, and this partnership can allow us to invest in our vision to help reduce inequalities and create more sustainable cities and communities.”
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By GlobalDataThe deal’s value was not revealed and is scheduled to close over the next few months.
Completion of the deal is subject to customary closing conditions.
Apollo partner and co-head of Impact Joanna Reiss said: “United Living is a proven provider with an exceptional reputation for quality and reliability that has a profound impact on affordable housing residents and their broader communities.
“As investment in infrastructure and social housing remains a key priority, we believe the business is well-positioned for further growth.”
The United Living deal marks Apollo’s latest acquisition in the UK.
Last year, the private equity business acquired UK-based housebuilder Miller Homes.
