Lift off for Assura’s acquisition of Apollo Capital Projects
Property investment firm Assura confirmed the acquisition of primary care developer Apollo Capital Projects Development, today.
The Warrington firm, which specialises in health centres and clinics, said the deal will further strengthen its development pipeline and capability.
Ipswich-based Apollo has a strong, 20-year track record of developing high quality primary care properties across the UK, with an experienced four-person development team.
As well as expanding the Assura development team to 11 specialist surveyors, the acquisition increases the company’s immediate and extended development pipeline by an initial eight schemes with an estimated total capital expenditure of £50m.
Jonathan Murphy, Assura chief executive, said: “The acquisition of Apollo will further enhance our sector-leading in-house development capabilities and substantially expand our pipeline, which is already the largest in our history.
“Following our acquisition of primary care developer GPI in 2019, this is another important step in our growth story that further deepens our understanding of the future trends shaping the sector, from building design to sustainability.”
He added: “Expanding our offer to the NHS as its partner of choice has never been more vital than it is today.
“As Apollo’s colleagues integrate into Assura, we look forward to working together to continue creating outstanding spaces for health services in our communities.”
DWF advised Assura on the acquisition. Its corporate team was led by partner Alasdair Outhwaite and senior associate Francesca Kinsella, alongside real estate partner Paul Inman.
Alasdair said: “It is a pleasure to advise Assura on this latest acquisition, which builds on the previous acquisition of primary care developer, GPI, two years ago. Assura is renowned for its capabilities in creating exceptional spaces for health services in our communities. This latest acquisition will allow the business to continue its growth as a sector-leader in this field.”