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HCA gives green light to merger
A merger between two English housing associations has been given the green light by the Homes and Communities Agency and could take effect from January.
Bob Strachan
Jephson and Raglan will join forces to form a 29,000-home landlord which will be called Stonewater.
The new organisation will have a £160m turnover and £1.6bn in assets - putting among the largest providers in the UK.
Raglan owns and manages around 13,000 affordable homes across England’s south and midlands regions, with the main part of the business focusing on general needs accommodation, along with a range of supported and specialist services.
Meanwhile, Jephson manages more than 16,000 homes across the country, including general family housing, low-cost homeownership, housing for older people and tenants with support needs.
The HCA has now approved the long talked about deal, and financial Conduct Authority approval should be finalised in time for the deal to be effective from January 1. The landlords applied for the £1.6n merger in July.
Bob Strachan, current CEO of Jephson, has been announced as Chief Executive Officer, with Nick Harris, current CEO of Raglan, taking up the post of Deputy CEO.
Mr Strachan said: ‘I am delighted the merger is approved by the HCA. We have a tremendous opportunity in combining the already strong, successful Jephson and Raglan organisations.
‘Coming together as Stonewater means we can deliver substantial benefits for residents and increase the range of affordable homes to meet an ever growing need.’
