Apollo to buy United Living

Apollo to buy United Living

Global alternative asset manager Apollo announced that funds within Apollo’s Impact platform have agreed to acquire United Living Group, a provider of essential infrastructure, social housing maintenance and construction services in the United Kingdom.

Financial terms were not disclosed.

United Living provides a range of mission critical maintenance and construction services across three pillars: infrastructure, new homes and property services.

Serving a diversified set of blue-chip corporate and government clients, the company delivers essential services to the owners and operators of utility infrastructure and property assets across the UK.

“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,” said Joanna Reiss, Partner and Co-Head of Impact at Apollo. “As investment in infrastructure and social housing remains a key priority, we believe the business is well-positioned for further growth. We are excited to partner with Neil and the talented team to deepen United Living’s positive impact.”

“With Apollo’s resources and significant experience investing across the infrastructure and social housing services markets, we are looking forward to building on our momentum and strategically expanding across our three pillars,” said Neil Armstrong, Chairman, Founder and CEO at United Living. “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.”

The Apollo Impact platform pursues private equity-like opportunities with the intention of creating positive, measurable social and/or environmental impact while generating attractive risk-adjusted returns.

The transaction is subject to customary closing conditions and is expected to be completed over the summer.

Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!