Centrus advises Riverside on Impact merger
Centrus has underlined its already strong credentials in advice around housing sector mergers & acquisitions by advising Riverside Group on its partnership with Impact Housing Association. Centrus was appointed by Riverside to support the development and implementation of the treasury strategy and lender engagement process relating to the merger.
Impact Housing Association officially became a subsidiary of The Riverside Group on Monday 20 August 2018, following a vote by the association’s shareholders, ending a period of uncertainty over the future of the 2,770 home Workington-based housing association.
The advice provided by Centrus to Riverside spanned portfolio valuation & analysis, business planning and financial covenant implications and consideration of Riverside Group financial support to Impact.
This mandate further reinforces Centrus’ leading role in housing M&A, including situations where regulatory intervention has led to subsequent merger, including advice to Places for People (Luminus), Places for People (Derwent) and Wales & West (Cantref).