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Landlord completes acquisition of smaller provider
Large housing association Stonewater has expanded its presence in the South East by acquiring the smaller Greenoak.
The tie-up between the two landlords has been agreed at board level, meaning Woking-based Greenoak will become a subsidiary of 35,000-home Stonewater from next January.
Around 550 affordable homes owned or run by Greenoak across Surrey and East and West Sussex will be transferred to Stonewater on a phased basis.
Greenoak, a community benefit society, has worked closely with Stonewater for over 10 years, and announced plans for the merger earlier this year.
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Greenoak has also announced that its chief executive, Diana Kingdon, will be stepping down at the end of the year after 25 years leading the organisation.
Ms Kingdon will be replaced by Marcus Canning, assistant director of customer experience at Stonewater, who will be interim director from January 2023.
Ms Kingdon said: “After much reflection, I’ve concluded that it’s the right time for me to step down from my position at Greenoak. I’ve enjoyed a long and successful career in the sector and have led Greenoak for over two decades.
“The years have flown by, and I am immensely proud of what’s been achieved with a small team, in particular our record on environmental sustainability. I am excited for new experiences and fresh challenges.”
The landlord said that it quickly built up a reputation for its strong commitment to environmental sustainability under Ms Kingdon’s leadership.
Nicholas Harris, chief executive of Stonewater, said: “Diana has been integral to the success at Greenoak and I would like to congratulate her on a fantastic career.
“I’m very grateful to Diana for her professionalism and support in bringing the partnership to fruition. She is leaving a fantastic legacy, which will allow Greenoak to continue to flourish within the Stonewater Group.”
Stonewater, based in Leicester, was formed from the merger of Raglan Housing Association and Jephson Housing Group in 2015, and now operates across 139 local authority areas in England.
