Apollo, a global investment firm, has announced that its affiliates, the Apollo Funds, have reached an agreement to acquire United Living Group, a prominent provider of essential infrastructure, social housing maintenance, and construction services in the United Kingdom. The financial terms of the deal have not been disclosed.
United Living operates across three key areas: infrastructure, new homes, and property services. The company offers critical maintenance and construction services to a diverse range of clients, including corporate and government entities. By revitalizing homes and communities, ensuring the efficient operation of utility assets, and partnering with social housing and build-to-rent communities, United Living plays a crucial role in expanding access to affordable housing and essential services for underserved populations.
Joanna Reiss, Partner and Co-Head of Impact at Apollo, expressed confidence in United Living’s capabilities, stating, “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.” Apollo sees significant growth potential in the infrastructure and social housing sectors and looks forward to partnering with United Living to deepen their positive impact.
Neil Armstrong, Chairman, Founder, and CEO of United Living, highlighted the opportunities for expansion and improvement in access to affordable housing and critical infrastructure. Armstrong believes that the partnership with Apollo, backed by their resources and experience in the infrastructure and social housing services markets, will help drive the realization of their vision to reduce inequalities and create sustainable cities and communities.
The Apollo Impact platform, led by Joanna Reiss and Marc Becker, focuses on private equity opportunities that generate positive social and/or environmental impact while delivering attractive risk-adjusted returns. With a commitment to making a measurable difference at scale, the platform invests in industry-leading companies that contribute to societal well-being or environmental sustainability.
The transaction is subject to customary closing conditions and is expected to be finalized during the summer. Advisers for United Living included DC Advisory, Addleshaw Goddard, Strategy&, and Deloitte, while Apollo received guidance from Paul, Weiss, Rifkind, Wharton & Garrison LLP, Macfarlanes LLP, and KPMG.