Neo Property Solutions

Neo Property Solutions, one of the UK’s leading passive fire protection safety businesses, has been acquired by Premier Technical Services Group – the group’s first acquisition after being backed by global private equity funds Warburg Pincus and Macquarie. The acquisition of Neo complements PTSG’s Fire Safety Solutions division and expands the group’s overall fire capabilities – its clients can now receive all three of the most important fire services in one place – electrical, mechanical and passive fire protection.

Based in Leeds and with a national reach, Neo has established itself as a key player in the rapidly growing area of passive fire safety solutions. Passive fire has increased in prominence following recent high profile events and an increasing awareness of responsibility amongst building owners. Increasing regulation, with the introduction of the Fire Safety Act 2021, will be a further catalyst for Neo’s services and on-going advice.

Neo has grown through delivering quality service and advice to customers within the social housing, healthcare, education, student accommodation and emergency service sectors including projects with Yorkshire Housing, Places for People, Trafford Housing Trust and Progress Housing Group.

Headquartered in West Yorkshire, PTSG employs around 1,400 people across 37 UK sites, servicing more than 180,000 buildings in the UK, across a wide range of industries with specialist niche services.

Alistair Hodgson, Managing Director of Neo, commented “I thank the Park Place team for their patience, insight, and relentless attention to detail. With their support and help, we achieved an excellent result for the shareholders and the deal pairs Neo with an organisation with whom we look forward to building on past successes, and developing a market leading status in the provision of essential fire safety solutions.”

Ben Peacock, Partner at Park Place, said: “We are delighted to have helped Neo find a new owner and in PTSG one that will assist on its journey towards national leadership. We have worked with Neo over a number of years as the shareholders considered their options in a rapidly growing business with a backdrop of positive regulatory change. It is particularly rewarding to have worked with Neo given we advised the buyer of the majority shareholders’ previous business some 10 years ago.”

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