Both organisations have identified strong synergies across their businesses and have entered into formal merger talks. Here is the statement issued by the Chairs.
Somerset based South Western and Devon based Tamar Housing Societies have entered into formal merger talks. Both organisations have identified strong synergies across their businesses; evidenced by a desire to grow, to continue fulfilling demand for affordable homes, an ambition to deliver service standards that result in high levels of resident satisfaction and a set of shared values and culture that commits them to their social purpose.
The Boards have determined key drivers for merger including increased development capacity, building business resilience, maintaining service levels and ensuring value for money gains are achieved where reasonable and practical to do so.
The Chairs both said that ‘this is an exciting development that the two societies believe will produce a new combined Housing Society, built on sound foundations which will offer a real alternative in a market where affordable housing choice is becoming more limited. Continuing to provide a personalised service to current and future residents is a passion shared by both existing Boards’.