A controversial joint company set up between Powys County Council and Kier is to close.
The council has announced the joint venture will terminate and its services will return to the county council to run.
The Heart of Wales Property Service was set up to run property servies on behalf of the council, such as maintaining council houses.
"Following a comprehensive review of the company, the county council and Kier are set to end the service at the end of the current five-year contract in July 2022," said a statement.
There had been concerns raised about the viability of the company.
Powys County Council Leader, Councillor Rosemarie Harris said: “Heart of Wales Property Services was established in 2017 to provide a wide range of services, including housing and building maintenance, as well as a consultancy service for new projects, employing nearly 150 staff.
“Following a detailed review of the company, it has been agreed by both parties that a break clause in the contract will be implemented and all staff and services provided will be transferred back to the council.
“Some initial investment will be required to make the change, but we are confident it will provide long-term improvements which continue to support the local economy. We are grateful to Kier for their support and look forward to a seamless transfer.” she added.
Mark Whittaker, Managing Director of Kier Places, said: “We are proud to have served the Powys community over the past four years, providing essential housing and building maintenance services as well as supporting residents in response to the COVID-19 pandemic.
“Following a strategic review of our business, we have refined our areas of focus and geographical locations and have mutually agreed with the council to end our partnership at the end of this five-year term.
"We will continue to work collaboratively with the council through to July 2022, helping to transition the service and throughout this time we will be focused on maintaining the same level of service to residents as well as providing stability to our staff and supply chain partners.”