Sureserve Group (Sureserve) has signed a 10-year £20m agreement with Tower Hamlets Homes to provide domestic gas services for its council houses.
The wholly owned subsidiary K&T Heating Services (K&T) will provide domestic gas servicing, repair and installation for properties managed by the group.
The deal will commence at the start of April and is expected to generate sales revenue of £20m over the entire contract term.
Tower Hamlets Homes provides housing support services to over 11,500 tenanted homes on behalf of the local authorities.
This order complements Sureserve’s recent merger and acquisition spree, with group snapping up CorEnergy last month in a £7.5m deal and Vinshire Gas Limited last January.
The social housing energy services has rebounded strongly from challenging pandemic conditions, reporting a 24.7 per cent revenue boost in its preliminary results last week.
Its order book has grown to £527.1m at the start of its current financial year, providing the group with long-term visibility in its earnings.
David Greenfield, K&T, managing director, said: “K&T has maintained a long and respected history of working within East London and to be able to expand upon an already strong geographical presence is an exciting opportunity for us all.”
Will Manning, Tower Hamlets Homes, asset management director, added: “We are confident that selecting K&T Heating as our partner will bring the high-quality service our residents deserve, and we look forward to working closely with them. In addition to repairs and maintenance, we are both committed to providing added value, such as apprenticeships, training, work experience placements and other projects that support the community”