Property services and FM provider Pinnacle Group has acquired social housing specialist Orchard & Shipman to extend its service capability nationwide.
The deal, announced today (11 October), will see the integration of the whole of Orchard & Shipman within Pinnacle, including its registered provider (Orchard & Shipman Homes). The company will continue to be run by executive chairman Chris Shipman.
Orchard & Shipman has more than 30 years of experience in providing residential management services for public and private sector landlords and portfolio owners nationwide.
Pinnacle said that this strategic acquisition, involving a mixed-tenure residential management portfolio of more than 80,000 homes across the UK, “further boosts Pinnacle’s sector expertise and capability while benefiting existing as well as new customers and clients”.
The deal strengthens Pinnacle’s ability to provide “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 Defence Infrastructure Organisation (part of the Ministry of Defence). It also includes an £85 million funding project, devised and secured by Orchard & Shipman in August in partnership with London Borough of Bromley, to provide affordable homes and to manage them over a 50-year period.
Peregrine Lloyd, group CEO of Pinnacle Group, said: “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, CEO of Orchard & Shipman, added: “Our businesses have many complementary skills and I look forward to helping to deliver the exciting projects we already have in the pipeline.”
Image credit | Pinnacle Group