The merger creates a £145 million turnover, not-for-profit business, with assets of over £1 billion and employing more than 1,500 staff across Wiltshire, Hampshire, Somerset, Dorset, Berkshire and Devon and Cornwall.
The new group will serve more than 75,000 customers. It will manage more than 27,000 affordable homes through its businesses Aster Communities and Synergy Housing.
It will also carry out 60,000 repairs and maintenance jobs a year through Aster Property and provide care and support for around 20,000 customers through Aster Living.
And the new group’s development business Aster Homes will build around 600 new homes each year from 2013, for open market sale and for rent as affordable housing.
This means Aster Group will be able to build around 1,500 new affordable homes across the south and south west over the next three years.
Bjorn Howard, chief executive of the enlarged group, said the merger between Aster and Synergy meant the new group would be ‘bold and brave’ where it could ‘make a positive difference’ to local communities.
“By running a financially strong and growing business we can focus on putting customers at the heart of everything we do. This merger is a clear sign of the support we have from our staff, our many business partners, our lenders, and – most importantly – our tenants and other customers.
“Joining Aster and Synergy together gives us a fantastic opportunity to do that in a way which will really benefit local people and help communities to prosper and thrive. A lot of effort has gone into this merger, but the real work starts here, as we improve our offer to our customers and partners.”