{"id":15730,"date":"2023-04-22T22:04:32","date_gmt":"2023-04-23T05:04:32","guid":{"rendered":"https:\/\/essential.construction\/news\/london-private-equity-firm-launches-bid-for-sureserve\/"},"modified":"2023-04-22T22:04:37","modified_gmt":"2023-04-23T05:04:37","slug":"london-private-equity-firm-launches-bid-for-sureserve","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/london-private-equity-firm-launches-bid-for-sureserve\/","title":{"rendered":"London private equity firm launches bid for Sureserve"},"content":{"rendered":"<p> <a href=\"https:\/\/essential.construction\/files\/membership-default-internal\/\" class=\"memberhide\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/01\/20220718_175041000_iOS.jpg\" alt=\"-\"><\/a><br\/><br \/>\n<\/p>\n<div>\n<p>The bid, which is being recommended by the housing maintenance firm\u2019s board, is at a 39% premium to yesterday\u2019s closing share price of 90p, which gave Sureserve a market capitalisation of \u00a3145m.<\/p>\n<p>Sureserve employs about 2,500 people specialising in housing safety compliance work, offers the potential to grow quickly as the country moves to meet net zero targets.<\/p>\n<p>The firm was formed five years ago, when the former Lakehouse business rebranded.<\/p>\n<p>Fabrice Nottin and Serge Touati, co-managing partners of Cap10, said: \u201cCap10 is looking forward to working with Sureserve\u2019s management team to support them in delivering their strategic vision.<\/p>\n<p>\u201cWe are fully supportive of Sureserve\u2019s intention to become the strategic partner to social housing landlords, local authorities and other public sector bodies to help them achieve their goals to reduce fuel poverty and the carbon footprints of their estates.\u201d<\/p>\n<p>Nick Winks, chair of Sureserve, said: \u201cUnder private ownership, without the costs and regulation of a listed company, Sureserve should be able to pursue its strategy more productively and thereby sooner achieve leadership in helping our customers transition from traditional heating fuels to renewable alternatives.<\/p>\n<p>\u201cThe Sureserve directors believe that the offer presents an opportunity for Sureserve shareholders to realise an immediate and certain compelling value in cash at a meaningful premium and are therefore themselves going to vote the Sureserve shares in which they are interested in favour of the acquisition.\u201d<\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5143531171910809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- News - Bottom -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-5143531171910809\"\r\n     data-ad-slot=\"8320848692\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.constructionenquirer.com\/2023\/04\/21\/french-private-equity-firm-launches-bid-for-sureserve\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bid, which is being recommended by the housing maintenance firm\u2019s board, is at a 39% premium to yesterday\u2019s closing &#8230; 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