Mears Group (LSE:MER) has been notified that Thurrock Council has awarded it a £240m contract over a ten-year-term to provide all repairs, compliance and planned investment works. The contract's annual value is £24m over an initial five-year term and an option to extend for a further five years.
The contract expands the services previously provided by Mears, a leading provider of services to the housing sector in the UK, to Thurrock as the former moves its core maintenance offering towards a total asset management solution.
"The new contract expands the services previously provided to Thurrock, extending the core maintenance service towards a total asset management solution," said Lucas Critchley, Chief Executive Officer.
Mears said the Thurrock win forms part of an intensive rebid period in which the Group has been re-awarded contracts totalling more than £1bn over the last 12 months, including work with Milton Keynes City Council, Leeds City Council, Cross Keys Homes and Livin.
