Clearwater International UK advises Lakehouse plc on sale of construction and property services assets

Clearwater International UK has completed a second transaction with Lakehouse plc, a UK-based asset and energy support services group, advising on the sale of its construction and property services divisions, comprising the legal entities Lakehouse Contracts Limited and Foster Property Maintenance Limited.

Lakehouse Contracts and Foster Property Maintenance employ over 200 staff principally across the UK. Both businesses have been acquired by Mapps Group Limited; a newly formed entity backed by a team of sector specialists.

The sale will allow Lakehouse to concentrate on its core growth businesses of compliance and energy services. The business serves customers in the social housing and public buildings markets, along with a broad mix of customers in energy services and an increasing number of industrial and commercial customers.

The Clearwater International team comprised of Partners Phil Burns and Marcus Archer, Associate Directors Stephen Nemeth and Mark Maunsell, and Senior Associate Alex Brindley.

Bob Holt, Executive Chairman of  Lakehouse plc, was “delighted with the sale”.

“I believe that Lakehouse Contracts and Foster under the private ownership of Mapps Group will do well. I want to thank the staff of Lakehouse Contracts and Foster for their professionalism during what has been an uncertain time and wish them all the best for the future.”

Bob Holt, Executive Chairman, Lakehouse plc

“We’re glad to have been able to advise Lakehouse again on its exit of non-core businesses. As with other recent divestment announcements from listed companies, this transaction will allow Lakehouse to focus on its core businesses of compliance and energy services. The exit of the non-core divisions will enable a controlled reduction in the central overhead base which will help group margins, cash generation, and hence competitive edge.”

Marcus Archer, Partner, Clearwater International