Fri, 14/12/2012 - 06:11
Property management and development group Places for People (PfP) has acquired DC Leisure (DCL), a leisure management contractor that manages 100 community leisure facilities on behalf of 28 local authorities across the UK.
Livingstone Partners’ business services sector team advised DCL’s shareholders on the sale.
The deal will see both companies grow their leisure and facilities management services, alongside other social and private sector housing and development activity in communities across the UK. As part of the acquisition DCL will keep its existing identity, board, and governance structures, but operate as a subsidiary of PfP.
PfP is one of the UK’s largest property groups and works in 230 local authorities, owning or managing 82,000 properties. PfP’s ownership and resources will enable DCL to pursue the increasing number of outsourced leisure management contracts coming to the market and utilise its experience in driving leisure, sports and fitness participation, building state-of-the-art new leisure centres and improving existing, and creating new, places for local communities.
David Cowans, group chief executive of PfP, says: “The mutual commitment of Places for People and DC Leisure to improving places and communities was the driver for the acquisition. Our focus is on making places work. Whether we are involved in the creation of a new community or regeneration of an existing neighbourhood we have a long-term interest in adding value to places and providing people with facilities such as new schools, shops, leisure, and job opportunities which add value to a place.
“The roots of both companies are in working in partnership with local authorities and communities to create successful places and we are excited and looking forward to an exciting future.”
Steve Philpott, chief executive of DCL, says: “This will be a pioneering partnership - the first time a housing provider has joined forces with a leisure provider. It’s going to be an exciting and unique adventure for us all which will create many new opportunities to improve the communities we serve."
Livingstone Partners advised DCL and its private equity investor Sovereign Capital on positioning the company for sale and overseeing the discussions with PfP.
Kristian Gavan, director at Livingstone London, says: “DCL is a unique business, combining an ever broadening community service mandate with best-in-class private sector outsourcing practices to deliver an affordable but high quality experience to local communities and value for money for local authorities. With its social housing roots, PfP offers an ideal cultural home for DCL to flourish.”
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Sat, 28 Nov 2015 00:00:00 GMTS/VP Enterprise Risk - Buy Side Firm | Singapore
Sat, 28 Nov 2015 00:00:00 GMTVP of Operational Risk - Global Buy Side Firm | Singapore
Sat, 28 Nov 2015 00:00:00 GMT