Buyout could mean new jobs are in the pipeline

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A WASHINGTON utility services provider has boosted its workforce to more than 600 staff after taking over a new business.

Water and gas pipeline specialist Fastflow Group has acquired Oxford-based property maintenance and refurbishment business DW Contractors, for an undisclosed sum, a deal expected to raise group turnover within reach of £60million.

DW Contractors provides property maintenance, repair and refurbishment services for housing associations, London councils, Government agencies, management companies, schools, universities and NHS trusts.

A call-centre team provides responsive day-to-day support for tenants and residential housing staff, co-ordinating a team of 300 people, delivering responsive repair as well as planned maintenance, refurbishment and energy saving solutions.

All the staff will transfer to Fastflow, which recorded operating profit of £443,000 on sales of £24million for the year ended March 13.

The firm plans to put in place an investment and development strategy which will create more jobs and opportunities.

Fastflow chief executive and owner Neil Armstrong, said: “This provides us with an excellent opportunity to diversify and grow our business.”