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Wates Property Services (WPS) has acquired Surrey-based facilities-management firm Calibre Building Services. The £29m figure reported for Calibre is its turnover for the year to April 2026—not the sale price, which has not been disclosed.
What Wates has acquired
WPS announced the acquisition on 2 October 2026. Calibre provides facilities-management services to building owners and operators. It is headquartered in Surrey and operates across the Midlands, South West and South of England, according to WPS’s announcement.
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Calibre will continue trading under its existing name as part of WPS, with a team of about 200. WPS says the addition takes its national workforce to around 3,400.
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Construction Enquirer reported that Calibre recorded £29m turnover in the year to April 2026, up from £26.9m in the preceding period. It also reported pre-tax profit of £433,000 for the year, compared with £994,000 previously.
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These are reported company financial results, not details of the acquisition consideration. Neither WPS’s announcement nor the cited trade coverage states how much Wates paid or provides the deal structure. Construction Wave describes Calibre’s turnover as £27m, a rounded figure that differs from Construction Enquirer’s period-specific £29m report; the buyer’s announcement does not give a turnover figure.
Why WPS says it made the deal
WPS says the acquisition expands its national facilities-management footprint, adds commercial building-management expertise and gives it greater strategic agility in its offer to managing-agent customers. Those are the buyer’s stated aims; the announcement does not establish what results the acquisition will deliver.
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Construction Enquirer reports that Calibre was founded in 2011, is co-owned by directors Steve Welch and Matt Mabey, and specialises in mechanical, electrical and public health services. WPS says the business will continue serving its clients under its own name as part of the group.
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Calibre co-managing director Matt Mabey said the priority was to preserve the company’s tailored customer care and delivery while drawing on WPS’s wider backing and expertise. He also said the firms would work to maintain relationships with Calibre’s clients. WPS managing director of facilities management Jack Prady described Calibre as an ideal fit for WPS’s work with building managers. The comments appear in the companies’ announcements and trade coverage.
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