Apollo Impact to Acquire United Living, a Leading Provider of Essential Infrastructure, Social Housing Maintenance and Construction Services Across the UK
30 Maio 2023 - 3:00AM
Apollo (NYSE: APO) today announced that funds managed by its
affiliates (the “Apollo Funds”) have entered into a definitive
agreement to acquire United Living Group (“United Living” or the
“Company”), a leading provider of essential infrastructure, social
housing maintenance and construction services in the United
Kingdom. Financial terms were not disclosed.
United Living provides a range of mission critical maintenance
and construction services across three pillars: infrastructure, new
homes and property services. Serving a diversified set of blue-chip
corporate and government clients, the Company delivers essential
services to the owners and operators of utility infrastructure and
property assets across the UK. By reviving homes and communities
through regenerated living spaces, ensuring the safe and reliable
operation of utility assets and partnering with the largest social
housing and build-to-rent communities, United Living’s diversified
offerings serve to increase access to affordable housing and
critical services for often underserved populations.
“United Living is a proven provider with an exceptional
reputation for quality and reliability that has a profound impact
on affordable housing residents and their broader communities,”
said Joanna Reiss, Partner and Co-Head of Impact at Apollo. “As
investment in infrastructure and social housing remains a key
priority, we believe the business is well-positioned for further
growth. We are excited to partner with Neil and the talented team
to deepen United Living’s positive impact.”
“With Apollo’s resources and significant experience investing
across the infrastructure and social housing services markets, we
are looking forward to building on our momentum and strategically
expanding across our three pillars,” said Neil Armstrong, Chairman,
Founder and CEO at United Living. “We see significant opportunities
to further improve access to high-quality affordable housing and
critical infrastructure across the UK, and this partnership can
allow us to invest in our vision to help reduce inequalities and
create more sustainable cities and communities.”
The Apollo Impact platform pursues private equity-like
opportunities with the intention of creating positive, measurable
social and/or environmental impact while generating attractive
risk-adjusted returns. It looks to achieve impact at scale by
investing in industry leading companies that help people or heal
the planet. Co-led by Ms. Reiss and Marc Becker, the Impact
platform builds upon Apollo’s long-standing track record of
engagement on sustainability issues that spans more than a
decade.
The transaction is subject to customary closing conditions and
is expected to be completed over the summer.
United Living was advised by DC Advisory, Addleshaw Goddard,
Strategy& and Deloitte. Management was advised by Taylor
Wessing and Jamieson. Apollo was advised by Paul, Weiss, Rifkind,
Wharton & Garrison LLP, Macfarlanes LLP and KPMG.
About Apollo
Apollo is a high-growth, global alternative asset manager. In
our asset management business, we seek to provide our clients
excess return at every point along the risk-reward spectrum from
investment grade to private equity with a focus on three investing
strategies: yield, hybrid, and equity. For more than three decades,
our investing expertise across our fully integrated platform has
served the financial return needs of our clients and provided
businesses with innovative capital solutions for growth. Through
Athene, our retirement services business, we specialize in helping
clients achieve financial security by providing a suite of
retirement savings products and acting as a solutions provider to
institutions. Our patient, creative, and knowledgeable approach to
investing aligns our clients, businesses we invest in, our
employees, and the communities we impact, to expand opportunity and
achieve positive outcomes. As of March 31, 2023, Apollo had
approximately $598 billion of assets under management. To learn
more, please visit www.apollo.com.
About United Living
United Living provides essential services to the owners &
operators of UK utility infrastructure and property assets.
Delivered through three complementary businesses, Infrastructure
Services, Property Services and New Homes, United Living partners
with public and private sector clients in long term relationships
to deliver innovation, cost certainty and stakeholder value, with a
strong focus on our environmental, social and governance
commitments.
We help our customers and the communities they serve benefit
from resilient infrastructure, beautiful homes and improved
environments where people and businesses want to live and grow.
We employ over 1,000 people and work with more than 2,000 supply
chain partners. All committed to leaving a positive legacy behind.
Our scale allows us to accept big challenges and build mutually
beneficial partnerships whilst thinking locally, working with our
customers to deliver services and infrastructure that will stand
the test of time.
The services we provide are about moving forward safely, towards
a sustainable future for our business, the communities in which we
operate and our customers – it’s the United Living way.
Apollo Contacts
Noah GunnGlobal Head of Investor RelationsApollo Global
Management, Inc.212-822-0540IR@apollo.com
Joanna RoseGlobal Head of Corporate CommunicationsApollo Global
Management, Inc.212-822-0491Communications@apollo.com
Apollo Global Management (NYSE:APO)
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