Bracknell-based Silva Homes is to become a subsidiary of Abri Group after the merger deal was approved by both organisation’s governing boards.
As a result of the deal, once the merger is formally complete in early October, Eastleigh-based Abri Group will own and manage 50,000 homes and assets, serving 114,000 residents across the south of England.
Gary Orr, Abri Group’s chief executive said he was “delighted” to confirm Silva’s acquisition.
He added: “By combining our skills and resources, and organising the delivery of our services on a regional basis, we’ll be an even stronger, more resilient organisation that can invest more in our existing homes and build more new ones, while being truly connected to our customers and communities.”
Under this regional approach, the group’s operating area will be split into three: south west, south, and south east, with Silva forming part of the latter operation.
Each region is to have its own local governance and leadership, including a regional managing director and a regional board.
Dasos Christou has been appointed as regional managing director for the south east region, following his role as executive director for customer relations at Silva Homes. The south east’s regional model will act as a “pathfinder” ahead of the group extending this approach across its geography.
Alan Ward, Silva’s chief executive will join Abri’s executive team as chief governance and strategic growth officer, while Graeme Stanley, Silva’s current chair of the board, will step down after nine years with the organisation.
Ward said: “I’m delighted to have helped Silva create a partnership with Abri. I look forward to the benefits this will bring our customers and colleagues. The last few months of discussions have been vital to ensuring Abri was the right fit to help achieve Silva’s ambitions.
“Both organisations are already strong, but by combining our skills and resources, and adopting a regional approach, we’ll be even stronger, with an improved offer for customers. I’m pleased that Silva’s Dasos Christou will be at the helm of the south east region, especially given his knowledge and experience of Silva’s business and the south east area.”
The presentation of the partnership’s final business case to their respective boards followed a “significant period” of due diligence, and a six-week customer consultation, Abri said.
Wayne Morris, Abri’s group chair, said: “Since our initial announcement earlier this year, Abri and Silva have worked closely with each other and key stakeholders to ensure the partnership would provide a better service for our customers.
“I’m pleased that both boards could see the value in these organisations joining forces and approved the final business case. I look forward to welcoming Silva to the Abri Group.”
Silva’s Stanley added: “I’m delighted to have been so heavily involved in making this partnership happen. Since we announced discussions earlier this year, the Silva board has worked closely with Abri, our stakeholders, and consulted with our customers to ensure the partnership would be the right decision.
“It’s been a pleasure to have served as chair of the board for Silva Homes, I’m proud of everything we have achieved for our customers. I know that through this new partnership, we’ll deliver even more for our customers and communities.”
Main image: Gary Orr, Abri Group’s chief executive
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