Social housing maintenance group Connaught continues to cash in on social landlords' desire to reduce costs through outsourcing, and is expanding its offering with the acquisition of Fountains.
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The group has said that continued strong order wins in the second half have boosted order intake in its financial year to date to £650m. Connaught is also using its relatively highly rated shares to make a £13.3m acquisition of Fountains, a listed ground maintenance company. The acquisition should help take Connaught's existing environmental business into markets beyond social housing.
