Contractor sheds 200 jobs through £1bn merger
The merger of two housing contractors has resulted in 200 job losses.
Keepmoat and Apollo merged at the end of March to form a £1 billion house building, refurbishment and repairs and maintenance company. But Ian Sutcliffe, chief executive at the merged group, confirmed that the move has produced 200 redundancies due to duplication of some roles.
‘There have been 200 redundancies as a result of the integration process,’ said Mr Sutcliffe. ‘The merger resulted in duplication in areas such as IT, finance and corporate support at Keepmoat’s headquarters in Doncaster and the Apollo base in Essex. The changes were to make the business both lean and fit for growth.’
Mr Sutcliffe added that he wants to see the company double its turnover to £2 billion within five years.
It has also been confirmed that the merged entity will retain the Keepmoat name after unifying several businesses, including Apollo Property Services Group, Apollo in Partnership and Brammall Construction.
Keepmoat has retained 3,500 staff to work across seven regions and the new company will focus on new build housing, regeneration and refurbishment, repairs and maintenance and finding funding solutions.
‘As a £1 billion turnover company, Keepmoat is a major player in the UK,’ continued Mr Sutcliffe. ‘We have developed a business strategy focused around our four core offerings, which means we can work with our partners and local authorities to create bespoke solutions to their housing and regeneration needs.’