Apollo and Keepmoat merger continues
Keepmoat is restructuring following its merger with Apollo
Apollo and Keepmoat have merged and the business is being restructured.
Contract negotiations could have been essential during the tie-up, as Keepmoat chief executive Ian Sutcliffe revealed the deal is expected to result in 200 redundancies.
These will typically be in departments such as corporate support, finance and computing, as the combination "resulted in duplication" in these areas, he stated.
The firms will operate under the Keepmoat brand and will deal with four core markets - repairs and maintenance, regeneration and refurbishment, finance solutions and new-build housing.
Currently, Keepmoat has a turnover of £1 billion every year and Mr Sutcliffe said he does not believe it is unrealistic to think this could be doubled to £2 billion within the next five years.
He added: "The new, single brand symbolises that Keepmoat is now one business, with one identity."
Previously, the representative said he was "greatly encouraged" by the potential and underlying strength of the combined company, noting both enterprises have "numerous complementary strengths".
Posted by Ken Hayes
Source: Press reports, April 30th