United Living expansion under US private equity firm


US investment firm Apollo Impact is to acquire United Living Group for an undisclosed sum. 

Credit: United Living.

United Living founder and CEO, Neil Armstrong, said the merger would help the company expand its maintenance and construction offering across infrastructure, new homes and property services sectors – its “three pillars”. 

While co-head of Impact at Apollo, Joanna Reiss, echoed United is “well-positioned” for growth, particularly in social housing and infrastructure sectors. 

Apollo pursues private equity opportunities which generate attractive risk-adjusted returns, while attempting to leave “positive, measurable social and/or environmental impact”, it said. 

As of 31 March, 2023, Apollo had approximately USD$598 billion of assets under management. 

United employs more than 1,000 people and works with around 2,000 supply chain partners across public and private sectors.  

It is a subsidiary of Fastflow Group, alongside DW Contractors, and Partner Construction. 

Advising United Living  

  • DC Advisory  
  • Addleshaw Goddard 
  • Strategy&  
  • Deloitte 

Management was advised by Taylor Wessing and Jamieson. 

Apollo was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, Macfarlanes LLP and KPMG. 

The transaction, which is subject to closing conditions, is expected to complete over the summer. 

“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 Armstrong.  

“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.” 

Reiss added: “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.” 

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