Introduction:
In a significant move within the infrastructure and social housing sector, Apollo Global Management, Inc. (APO) has announced that funds managed by its affiliates will acquire United Living Group, a prominent provider of essential infrastructure, social housing maintenance, and construction services in the United Kingdom. This acquisition marks a strategic partnership aimed at expanding access to affordable housing and critical infrastructure while addressing inequalities and fostering sustainable cities and communities.
United Living's Diversified Offerings:
United Living Group is recognized for its mission-critical maintenance and construction services in three core areas: infrastructure, new homes, and property services. The company serves a wide range of blue-chip corporate and government clients, delivering vital services to utility infrastructure owners and property asset operators across the UK. By revitalizing homes and communities, ensuring the safe operation of utility assets, and collaborating with social housing and build-to-rent communities, United Living plays a pivotal role in increasing access to affordable housing and critical services for underserved populations.
Apollo's Impact and United Living's Growth Potential:
Apollo's acquisition of United Living is driven by their commitment to generating positive, measurable social and environmental impact while maintaining attractive risk-adjusted returns. By leveraging Apollo's resources and extensive experience in the infrastructure and social housing services markets, United Living aims to capitalize on the momentum it has already built and strategically expand across its three pillars. Through this partnership, United Living envisions further improvements in access to high-quality affordable housing and critical infrastructure, reducing inequalities, and fostering sustainable cities and communities.
Impressive Reputation and Expertise:
United Living has garnered an exceptional reputation for its quality and reliability, making a profound impact on affordable housing residents and the broader communities it serves. The company's extensive industry expertise and diversified service offerings position it well for continued growth in the infrastructure and social housing sectors. With the support of Apollo's investment, United Living aims to deepen its positive impact and expand its reach across the UK.
Looking Ahead:
The transaction between Apollo and United Living is subject to customary closing conditions and is expected to be completed over the summer. This acquisition showcases Apollo's commitment to its Impact platform, which seeks to invest in industry-leading companies that positively contribute to society and the environment. By partnering with United Living, Apollo is further solidifying its position in the infrastructure and social housing services markets.
About Apollo:
Apollo is a global alternative asset manager focused on delivering excess returns for its clients across various investment strategies. With a comprehensive platform spanning asset management and retirement services, Apollo offers innovative capital solutions and retirement savings products. The company's patient, creative, and knowledgeable approach to investing aligns with its mission to expand opportunities and achieve positive outcomes for clients, invested businesses, employees, and the communities it impacts. As of March 31, 2023, Apollo had approximately $598 billion of assets under management.
About United Living:
United Living is a leading provider of essential services to owners and operators of utility infrastructure and property assets in the UK. The company operates through three complementary businesses: Infrastructure Services, Property Services, and New Homes. By forging long-term relationships with public and private sector clients, United Living delivers innovation, cost certainty, and stakeholder value while prioritizing environmental, social, and governance commitments. The company's dedicated team, consisting of over 1,000 employees and more than 2,000 supply chain partners, works together to leave a positive legacy by creating resilient infrastructure, beautiful homes, and improved environments for communities to thrive in.
Conclusion:
The acquisition of United Living by Apollo signifies a significant development within the infrastructure and social housing maintenance sector in the UK. With Apollo's resources and expertise, United Living is poised to build on its existing momentum and expand its impact across the three pillars of infrastructure, new homes, and property services. This strategic partnership aims to improve access to affordable housing and critical infrastructure, reduce inequalities, and create sustainable cities and communities, benefiting individuals and society as a whole.