Elysian Capital agrees to sell United Living Group, a leading provider of Essential Infrastructure, Social Housing and Construction Services across the UK

Elysian Capital II LP has agreed, in conjunction with management, to sell United Living Group to funds managed by affiliates of Apollo Global Management’s (NYSE:APO) Impact platform (“Apollo Impact”). United Living is a leading provider of essential infrastructure, social housing maintenance and construction services in the United Kingdom. Financial terms of the deal are not disclosed.

Elysian Capital II LP acquired United Living Group (previously called Fastflow Group) in 2017 in conjunction with Fastflow founder and CEO, Neil Armstrong. As well as continuing to grow and professionalise the existing businesses, Elysian has worked with management to make several acquisitions including Partner Group, United Living Group and Great British Communications (GBC), with the total group now employing over 1000 people.

Today, 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 housing association 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 landlords, United Living’s diversified offerings improve and maintain these critical assets and services for deserving communities.

Neil Armstrong, United Living’s Founder and CEO, will continue to lead the business, alongside the broader management team, in partnership with Apollo Impact. Neil Armstrong said, “It has been a pleasure to work with the Elysian team over the last six years, building the United Living Group from our original Fastflow beginnings to the business we have today. They have been exceptional partners to our team as we have grown the business both organically and through acquisition. We are excited for our next chapter and partnership with Apollo, as we look to further serve our communities by capitalising on the significant opportunities to drive improved access to high quality affordable housing and critical infrastructure in the UK”.

Ken Terry, CEO of Elysian and United Living Board Director said, “We have enjoyed working with Neil and his team on what has been a very successful investment for Elysian. Neil is an inspiring leader and entrepreneur, and we are proud to have built a market leading business together over the last six years. We wish all the team the greatest success for the next stage of their journey”.

The transaction is subject to customary closing conditions and is expected to complete over the summer.

Elysian Capital and United Living were advised by DC Advisory, Addleshaw Goddard, Strategy & and Deloitte. Management was advised by Taylor Wessing and Jamieson.