Optima Community Association and Harden Housing tie-up
Optima Community Association and Harden Housing have merged.
Merger and acquisition consultants might have provided assistance during the tie-up between Harden Housing and Optima Community Association.
This deal has resulted in the creation of Birmingham's second-biggest housing association, with at least 4,500 dwellings in its portfolio.
It will be part of the WM Housing Group, which owns around 26,000 domiciles.
Efficiency savings of around £500,000 every year are predicted to be achieved due to the merger.
Optima chief executive Simon Kimberley will become part of the executive for WM.
He said: "We made this selection based on the group's reputation and performance in offering an effective federal framework which allows the board to continue to deliver services to local communities."
WM Housing Group chief executive Pat Brandum noted both groups will benefit from the tie-up, while skills will be shared and services are to be improved.
Currently, the organisation invests more than £29 million in its year in its stock and is a member and leader of the Spectrum Partnership.
Posted by Ken Hayes
Source: WM Housing press release, April 1st