FirstPort’s completes Mainstay acquisition
Following the news in June that FirstPort was to join forces with fellow property and asset manager, Mainstay Group, the businesses have today confirmed that this has now been approved by the Financial Conduct Authority and the transaction has completed.
This will see the two businesses now combining to form a strengthened specialist group delivering residential property management, build-to-rent services, consultancy, asset management and facilities management services across the UK. For their customers and clients, services will continue to be delivered by the same operational teams and both brands will remain in place at the present time.
This transaction represents FirstPort’s third acquisition, following BRAM, formerly Barratt London’s property management company, in 2019 and Pentland Estate Management, Linden Homes’ property management provider, in 2017.
Nigel Howell, CEO of FirstPort, says: “I am delighted to announce that our transaction to acquire Mainstay has completed and that we will now be joining forces to deliver the very best property and asset management services for our customers and clients. I am excited to see how we will learn from each other and work together to drive the highest industry standards and realise new market opportunities.”
Luke Sanders, Group Managing Director of Mainstay, says: “This is an exciting milestone for Mainstay as we join the FirstPort group. I am proud of our achievements and track record to date, and this partnership with FirstPort will see us building on these further to offer the very best service to our customers and clients, as well as new development opportunities for our colleagues.”