Sureserve Group eyes opportunity in UK energy transition

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  • SureServe awarded GBP140mln social housing contract extension
  • Sureserve valuation compelling after Guinness Partnership renewal
  • Sureserve announce ‘significant win’, a GBP140m social housing contract extension
Housing

Quick facts: Sureserve Group PLC

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Sureserve Group PLC is a leading compliance and energy services group that performs critical functions in homes, public and commercial buildings, with a focus on clients in the UK public sector and regulated markets.

The group was founded in 1988 and is headquartered in Basildon and currently employs some 2,299 staff.

23 Aug 2021

() has won a ten-year contract extension with social housing group the Guinness Partnership for gas maintenance services.

Subsidiaries K&T Heating Services and Sure Maintenance were awarded the contract, which is for a minimum of 5 years and up to a maximum of ten and covers gas installation repair and upkeep,

The contract starts on 1 September 2021.and is expected to generate a combined sales revenue of GBP140mln over the full 10-year term.

The Guinness Partnership owns and manages more than 65,000 homes throughout England.

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08 Jul 2021

() won a long-term contract with a new social housing client worth an estimated GBP36mln in revenue.

The eight-year gas servicing, repair, installation and electrical testing contract is with PA Housing, a large registered provider of social housing that owns and manages more than 23,000 homes across the Midlands, London and the South East.

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26 May 2021

() has appointed Nick Winks as independent non-executive chairman with immediate effect.

Robert Legget, who has been acting as interim chairman, will resume his role as senior independent director of the compliance and energy services group.

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23 Aug 2021

()’s extension of its multi-year gas service contract by up to 10 years with its long-standing client The Guinness Partnership underlines the growing quality of earnings, says Shore Cap.

Guinness Partnership is one of the UK’s leading owners of social housing and although forecasts are not changed, this major contract renewal underpins the existing estimates said Shore.

Given the long-term growth and earnings quality, the valuation remains compelling says house broker Shore at 11.6 times forward earnings and free cash flow yield of 6.3% despite the shares more than doubling.

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23 Aug 2021

() () Interim Chief Operations Officer Peter Smith joins Proactive after winning a ten-year contract extension with social housing group the Guinness Partnership for gas maintenance services.

Smith says this deal ‘reinforces to our investors that we are all about regular, recurring revenues and long term partnerships’.

Subsidiaries K&T Heating Services and Sure Maintenance were awarded the contract which starts on 1 September 2021.and is expected to generate a combined sales revenue of GBP140mln over the full 10-year term.

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Sureserve announce ‘significant win’, a GBP140m social housing contract extension

Sureserve Group PLC (AIM:SUR) (AIM:SUR) Interim Chief Operations Officer Peter Smith joins Proactive after winning a ten-year contract extension with social housing group the Guinness Partnership for gas maintenance services.

Smith says this deal ‘reinforces to our investors that we are all…

16 hours, 15 minutes ago

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