Fortis Living and Waterloo Housing form Platform Housing Group
Centrus has supported its client Fortis Living in its merger with Waterloo Housing Group to form Platform Housing Group. The combined business will be a major investor and developer of affordable housing in the Midlands region, managing over 45,000 homes.
Centrus acted as corporate finance adviser to the two associations in key lender negotiations and we are pleased to have helped bring this transaction to a successful close.
Group Finance Director Andy Howarth commented that:
We have worked with Centrus as our treasury advisers for some time and they were able to use their knowledge of our portfolio and experience with a range of combinations and group restructures to help us get over the line. We are pleased also that we have protected important commercial relationships with our funders and positioned the group well for the future.
Managing Director Jonathan Clarke, who led the Centrus team, commented that:
Every merger is different. In this case there was a clear commercial strategy which Fortis and Waterloo had developed which protected value for money and which we supported with specific advice and commercial support as required. It is great to see another major transaction reach a successful financial close.
Centrus is the leading adviser for mergers and restructures in the housing sector and have continued to innovate to support the timely delivery of these transactions for the benefit of all stakeholders.