Facilities and property management service provider, Pinnacle Group, has acquired residential and social housing specialists Orchard & Shipman.
As one of the UK’s leading multi-tenure residential service providers, the acquisition will see Pinnacle expanding its geographical footprint and service capability nationwide. The purchase will integrate the whole of Orchard & Shipman within Pinnacle, including its registered provider (Orchard & Shipman Homes), and will continue to be led by Chris Shipman, Executive Chairman.
Orchard & Shipman brings over 30 years’ experience and expertise in the provision of residential management services to public and private sector landlords and portfolio owners nationwide.
With a mixed-tenure residential management portfolio of over 80,000 homes across the UK, Pinnacle says the strategic acquisition of Orchard & Shipman further boosts the company’s sector expertise and capability whilst benefitting existing as well as new customers and clients.
The deal immediately strengthens Pinnacle’s capacity to deliver step-change housing solutions. This includes delivery of the 49,000-home National Accommodation Management Services contract, secured by Pinnacle in June on behalf of the Defence Infrastructure Organisation. It also includes the £85 million funding project, devised and secured by Orchard & Shipman in August in partnership with London Borough of Bromley, to provide much-needed permanent affordable homes and to manage them over a 50-year period.
Commenting on the acquisition, Peregrine Lloyd, Group Chief Executive of Pinnacle Group said: “I am delighted to able to announce this strategic acquisition for Pinnacle. Both companies have a long history as trusted housing service providers and a complementary client base across public and private sectors. We have shared values and heritage and look forward to meeting our collective goals of providing even better value, more service innovation and extra customer focus as we continue to grow under the Pinnacle umbrella.”
Chris Shipman, Executive Chairman of Orchard & Shipman, added: “I am delighted to be joining an organisation that has the same high standards and values we have striven to deliver over our 30 years in business and very confident that our customers and employees will be in safe hands. Our businesses have many complementary skills and I look forward to helping to deliver the exciting projects we already have in the pipeline.”
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