Affinity Sutton owned 58,000 homes across the UK and was already one of the country’s largest social housing providers creating England’s largest housing association and one of the country’s biggest housebuilders with this merger. The merged organisation is called Clarion Housing Group and owns and manage over 127,000 homes. Clarion Housing Group plans to build 50,000 new homes across all tenure types over the next 10 years whilst prioritising affordable homes.
Keith Exford, Group Chief Executive of Affinity Sutton is the Chief Executive of Clarion Group and Mark Rogers, Chief Executive of Circle Housing Group, is now the Deputy CEO of Clarion Group. The combined housing association is led by Neil McCall.
Clarion Group will serve as one of the country’s biggest providers of employment services, supporting 4,000 people into work annually and helping 15,000 children to make a better start in life.
Keith Exford, Chief Executive, said: “We have carefully selected a name and brand for the new Group that represents our scale and ambition. ‘Clarion’ signals the clarity of that ambition. Together we will be a powerful force in housing and in our communities.”
Winckworth Sherwood has provided advice to Affinity Suttonon for the pre-merger due diligence, review of loan and funding arrangements, the merger process, loan security transfer and due diligence and post-merger group structure.
Partner and Head of Housing, Andrew Murray said: “The social housing market is seeing a profound period of change and consolidation. The merger between Affinity Sutton and Circle Housing Group is the largest seen in the market and our appointment is recognition that Winckworth Sherwood has one of the strongest and most respected teams in the UK.”
