Mears buys 3C Asset Management

Social housing repairs and maintenance provider Mears has bought 3C Asset Management - formerly Erinaceous Property Management for £12.5million.

It is anticipated that the purchase will add £20million to Mears' social housing turnover this year.

Payment of the full price depends on all performance criteria being met.

As a result of the acquisition Mears will now get social housing maintenance contracts with 16 customers, mostly in the South of England.