Two housing associations that own and manage thousands of homes across Lincolnshire have come together to form a new partnership.
The agreement will see Longhurst Group, which includes Longhurst and Havelock Homes (L&H Homes), merge with Peterborough-based, Axiom Housing Association.
The partnership will help deliver 700 new homes and maintain the provision of comprehensive care and support services.
Longhurst Group currently owns and manages over 19,000 properties across the Midlands and East of England, while Axiom has more than 2,200 homes across Peterborough, Cambridgeshire and Lincolnshire and provides housing and services to over 5,500 people.
The agreement was formally signed off by shareholders last week and will see Axiom join the Group on July 3.
The partnership is expected to grow the Group’s turnover to over £160 million within five years and generate a healthy 30% operating margin.
Longhurst Group chief executive, Julie Doyle, said: “The most satisfying aspect of this partnership is that it will help us to deliver exactly what the country needs.
“There is a greater pressure for the sector to do more for our customers and we feel that by working together, with stronger finances, greater resources and shared knowledge, we can provide even better services.”
Axiom Housing Association chief executive Alan Lewin has chosen to step down from his role and leave the organisation after eight years at the helm.
He said: “This is a crucially important milestone in the history of Axiom.
“The association is currently celebrating its 50th year and I am confident that joining Longhurst Group will guarantee another 50 years of excellent housing and care provision.
“Our shared contacts and expertise will enable us to have greater influence locally and regionally, and therefore deliver more to where it is needed the most.”