The Boards of Orbit Group Limited and Swan Housing Association Limited are today announcing that they are in discussions to form a partnership. Orbit acknowledges the matters raised in the Regulatory Judgement and are working with Swan on the findings.
In addition to realising a combined managed property portfolio of almost 60,000 homes, it is anticipated that the partnership will bring additional strength and focus in the management of housing and development operations.
It is expected that the transaction will be completed late 2022.
Mark Hoyland, Orbit Group Chief Executive Officer, commented:
“We believe Orbit and Swan to be an excellent, strategic match. Both organisations share common values and principles, have complementary geographies and are passionate about making a difference to people’s lives and the communities in which we work.
“In unlocking our shared potential, we can use our collective strength to do more to tackle the housing crisis and create thriving places to live.”
Pat Billingham, Chair of Swan Housing Association, commented:
“We are pleased to be working closely with Orbit. We remain absolutely committed to the communities we serve and are confident this partnership will bring many positive benefits to Swan customers and our people.
“We have been working proactively with the Regulator to deal with the immediate challenges within our business plan and working with Orbit will strengthen our recovery.”