Mears has paid £20m to buy Omega Group, a leading provider of residential lettings and management services to the social housing market. It has a portfolio of 1,700 properties and a client base of 24 local authorities and housing associations, mostly in London.
Mears has bought the business from the Antoniou family but wants to retain the management team.
Mears said that the acquisition was is in line with its aim to grow in the social housing market and was “sympathetic to our partnership ethos”.
The board said: “This acquisition will enhance our ability to work more widely with housing providers to improve the delivery of housing and property management services and to increase the supply and management of housing. Omega has been very successful in developing customer relationships, and Mears' national footprint will offer a wider range of customer relationships for Omega's services.”