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Sat May 30 2020

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East Anglian acquisition for Lakehouse

22 Oct 13 Housing repairs firm Lakehouse has acquired Foster Property Maintenance (FPM) to boost its presence in the east of England.

 

East Anglia-based FPM is a £50m property services company working in the affordable housing and public property sectors for local authorities and other housing providers in Cambridgeshire, Lincolnshire, Norfolk and Suffolk.

FPM, established by the Foster family in 1976, will be integrated into Lakehouse’s operations, taking staff numbers past 900. FPM managing director Steven Foster will remain with the company.

The acquisition follows Lakehouse’s purchase of K&T Heating Services in October 2011 and Allied Protection, a fire detection and alarm systems provider, in November 2012.

Earlier this year Lakehouse announced a record 44% increase in revenue and 70% rise in pre-tax profits

Lakehouse executive chairman Stuart Black said: “FPM extends our geographic reach and strengthens our maintenance capability. We believe this is a further step to creating a larger more sustainable business and we’re very excited by the opportunity it creates.”

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