One JV is with Breyer B-Line; the other is with Mitie. 聽Both joint venture companies have been named Pyramid Plus and will be 70% owned by A2Dominion.
The limited liability partnerships will run for 10 years from 1 April 2013, with an option to extend for a further five years.
A2Dominion will pay a fixed price for the responsive repairs and void services to its 34,000 properties across the southeast, with any surpluses being shared by both parties and reinvested into additional work. Each JV will have its own management board.
Over time, A2Dominion will look to extend the scope of the JVs to work for other clients, such as housing associations.
A2Dominion director Andrew Evans said: 鈥淭he JV model is, we believe, a more efficient and cost effective delivery vehicle that will provide a first class service to our customers whilst, at the same time, offer opportunities to generate additional revenue streams.鈥�
Breyer Group managing director Tim Breyer said: 鈥淭his is an innovative delivery structure which provides us with the opportunity to further enhance our collaborative approach and develop a model that is at the forefront of partnership working.鈥�
Got a story? Email news@theconstructionindex.co.uk
