One of the world’s greatest personal fairness buyers is in talks to purchase United Living Group, a social housebuilder and supplier of property and infrastructure companies.
Sky News has learnt that Apollo Global Management has entered unique negotiations to purchase the privately held enterprise.
One supply stated United Living’s valuation was anticipated to be effectively in extra of £300m.
If efficiently accomplished, it’s going to signify Apollo’s newest swoop on an organization in Britain’s housing sector, having purchased Miller Homes for £1.2bn practically 18 months in the past.
City sources stated that Apollo had emerged from a aggressive public sale involving numerous different personal fairness suitors.
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United Living has grown from its origins as a central heating specialist within the Sixties, when it was based as Harp Heating.
It broadened right into a companies supplier for the Greater London Council, and has since structured its enterprise throughout three divisions: infrastructure, new properties and property companies.
Based in Swanley, Kent, the corporate now employs greater than 1,100 folks throughout the UK.
It is run by its chairman and chief government, Neil Armstrong.
The sale course of for United Living is being run by DC Advisory.
Apollo didn’t reply to a request for touch upon Wednesday.
Source: information.sky.com”