Sureserve to buy Kinovo in £56.4m deal
By Michele Maatouk
Date: Wednesday 14 May 2025
(Sharecast News) - Specialist property services group Kinovo said on Wednesday that it has agreed to be bought by Sureserve in a £56.4m deal.
Under the terms of the transaction, Sureserve will pay 87.5p per share in cash, which is a premium of 41% to the closing share price on 9 May, the last day before the start of the offer period.
Kinovo non-executive chair Sangita Shah said: "The potential of the combined group - Sureserve's stature within UK compliance and energy services and Kinovo's reputation within its housing association and local authority clients - is compelling.
"I am particularly proud of the opportunity that this will present to our dedicated and committed employee base, whom I believe will be afforded enhanced opportunities to develop personally and professionally.
"As a board we unanimously recommend this deal to our shareholders, believing that this acquisition presents an opportunity to realise immediate value and at a meaningful premium."
Graham Levinsohn, the executive chair and CEO of Sureserve, said: "We believe the acquisition of Kinovo, with its focus on compliance and energy transition in social housing, fits perfectly with our strategy, and that bringing the two businesses together will enhance our offering to our clients.
"This is another significant step in delivering our mission, which is to be the trusted partner of choice to the social housing and related public sector in delivering essential and affordable heating, energy savings, and compliance solutions, playing a key and progressive role in decarbonisation, always delivering for customers, employees, residents and the environment with safety, integrity and respect at the forefront of everything we do."
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