One of the world’s biggest private equity investors is in talks to buy United Living Group, a social housebuilder and provider of property and infrastructure services.

Sky News has learnt that Apollo Global Management has entered exclusive negotiations to buy the privately held business.

One source said United Living’s valuation was expected to be well in excess of £300m.

If successfully completed, it will represent Apollo’s latest swoop on a company in Britain’s housing sector, having bought Miller Homes for £1.2bn nearly 18 months ago.

City sources said that Apollo had emerged from a competitive auction involving a number of other private equity suitors.

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United Living has grown from its origins as a central heating specialist in the 1960s, when it was founded as Harp Heating.

It broadened into a services provider for the Greater London Council, and has since structured its business across three divisions: infrastructure, new homes and property services.

Based in Swanley, Kent, the company now employs more than 1,100 people across the UK.

It is run by its chairman and chief executive, Neil Armstrong.

The sale process for United Living is being run by DC Advisory.

Apollo did not respond to a request for comment on Wednesday.