United House Group

On Wednesday 18 January 2012, Canaccord Genuity's client United House Group ("UHG" or "The Company") completed the disposal of three social housing PFI/PPP projects to John Laing Infrastructure Fund for £30.5m. The projects are:

• 50% stake in Camden - a round 1 Housing PFI Pathfinder Project;
• 45% stake in Islington I - a refurbishment and 30-year management and maintenance contract for 2,348 properties; and
• 45% stake in Islington II - a refurbishment and 16-year management and maintenance contract for 4,124 properties.

UHG is an integrated contractor, developer and investor focused on the London and South-East property market; specialising in the new build and refurbishment of social housing, regeneration and private residential developments. UHG's revenue and EBITDA in 2011 was £276m and £15m respectively, and it is owned by Management and Lloyds Development Capital ("LDC"), who acquired a minority shareholding in March 2010.

The transaction builds on Canaccord Genuity's track record in PFI and strong relationship with UHG, having advised LDC on their investment in March 2010.