Places for People and Elim Housing have confirmed they are in discussions over a potential merger.
If the deal goes ahead, Elim Housing – which manages around 900 homes across Bristol and Gloucestershire – would join the Places for People group later this year.
The move would mark a strategic expansion for the group, strengthening its presence in the South West and supporting its continued growth in the affordable housing sector.
Both organisations say talks are ongoing and subject to due diligence and customer approval.
The ongoing consultation gives all of Elim’s Customers an opportunity to ask questions and provide their views on the proposed merger.
Greg Reed, group CEO of Places for People, said: “Places for People is really pleased to have started merger discussions with Elim Housing.
“Both organisations have a proud history of supporting the City of Bristol and wider operating areas with the provision of social homes, as well as wider support such as homeless prevention.
“There is a great synergy in our missions and values as organisations and this relationship offers a really exciting opportunity for us to go further together.”
Paul Smith, chief executive of Elim Housing, commented: “Elim is an ambitious organisation with aspirations to deliver high quality homes and housing and support to a wide range of Customers. We are proud of our history and the value we add to the areas where we work, delivering homes and specialist services that step up to meet community need.
“However, the current economic environment has made it increasingly difficult for us to achieve our ambitions. These ambitions include the improvement of our existing properties and the development of new projects.
“In order to strengthen and sustain the homes and services Elim provides, we considered the potential for Elim to merge with another organisation.
“After considering our options, we chose to progress with Places for People as our preferred partner. We believe is an organisation with the scale, resource and a suitable geographical, service and cultural alignment to deliver hugely positive outcomes for all of Elim’s customers. Elim and Places for People have shared values and previous successful experience of partnership work in our homelessness support services.”
Read the orginal article: https://propertyindustryeye.com/property-firms-explore-merger-in-strategic-move/
