Just a fortnight after the company acquired an interest in the majority of Connaught Partnerships' contracts and related assets, agreements in principle have been secured with 42 local authority and housing association clients for the transfer of contracts to Lovell.

More are expected to follow this week.

The deal is a major step forward for Lovell enabling the affordable housing specialist to significantly expand its planned and response maintenance business, extend its geographical coverage and increase its client base. It also gives the firm a unique offering of response and planned maintenance, new-build social housing for rent, and new-build affordable open market homes for sale.

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"We are pleased to have secured so many partnerships so quickly and are delighted with the way clients have responded," said Lovell Managing Director Stewart Davenport. "Our prompt action has enabled us to provide customers with essential maintenance services with minimal disruption."

Within a short time of the announcement, Lovell had spoken to all of the staff the company inherited, arranged for vans to be refuelled and materials to be freed up and made arrangements for employees to be paid.

"As a company, we are very excited with this deal. In the short time since it was concluded I have been impressed by the dedication and commitment of the staff to their clients. Of course there have been challenges to face and I'm sure there will be a few more but we remain committed to working with the employees we have taken on and our new clients to make the transition as painless and as positive as possible."

(CD)