A proposed £35 million deal could see what is already one of the Gloucestershire's biggest businesses grow its turnover by £100 million annually.

The proposal on the table from Mears is that it takes over Bristol-based Mitie's social housing business.

It is reported the deal would see the Brockworth-headquartered Gloucestershire housing maintenance and care operator acquire an order book valued at £200m with a bid pipeline estimated at £800m.

Mitie Property Management Ltd and MPS Housing Ltd (MPM) provides maintenance and repairs to 30 UK social housing companies.

It is understood a deal could be sealed as early as the end of this month, with Mears planning to raise the cash through a share placement. It is understood 1,000 staff at Mitie would be affected.

Some £22.5m would be paid up-front with a further £12.5m paid over two years.

Mitie is no stranger to Mears. The man credited with shaping the modern Mears - Bob Holt, who left the company this summer - and the current chief executive, David Miles, both previously worked for the firm.

Mr Miles said the deal would "further strengthen Mears' market leadership".

Mears employs and estimated 350 staff in Gloucestershire, thousands more UK-wide, and in 2017 turned over £900.2m.

As news broke this morning Mears share price fell.

Read more: Revenues fall at one of Gloucestershire's biggest businesses