3rd Mar 2026 16:38
Mears Group PLC - Gloucester, England-based provider of housing and social care - Disposes of subsidiary Morrison Facilities Services Ltd for total cash consideration of GBP18.0 million. The business, which provides facilities management services mainly to the education and health sectors, is identified as non-core following the group's strategic update. The unit is sold on a debt- and cash-free basis with a normal level of working capital. In the year ended December 31, 2025, the FM activities generate revenue of GBP32.1 million and pretax profit of GBP2.8 million, previously reported within the Maintenance-led segment. Chief Executive Lucas Critchley says the disposal "brings a further simplification to the group" and reinforces its focus on housing services, where it sees significant growth opportunities. Read More
