Housing groups Apollo and Keepmoat merge
Published: 22 July, 2011
DONCASTER: Contractor and developer Keepmoat is to merge with smaller rival Apollo Group to create a £1bn turnover social housing business.
The merger has been agreed in principle by both boards and will see Keepmoat chief executive David Blunt lead the new group, called Keepmoat.
Apollo will keep operating as a brand under the Keepmoat umbrella. Mr Blunt said the combined firms will turnover £1.05bn in the year to March 2011,
Mr Blunt said the rationale behind the merger was to provide a better opportunity for growth for both firms, by combining two "complementary" businesses. "One business is primarily in the north, one is primarily in the south, there is very little overlap. But we are intending to capitalise on the market position that both have, to take expertise from both firms out to the wider group."