Catalyst Housing Limited Catalyst Housing Ltd in early talks with Rosebery (9101U)

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RNS Number : 9101U

Catalyst Housing Limited

03 August 2020

Catalyst Housing Limited and Rosebery Housing Association in early partnership discussions

Housing associations Catalyst and Rosebery have today (Monday 3 August) announced they are in early talks to enter into a partnership to work across London and the South East. Catalyst owns and manages 32,000 homes and Rosebery has around 2,700.

Discussions are ongoing and yet to be fully approved by either board.

Catalyst was approached by a third-party representing Rosebery. Rosebery's objectives in seeking a partner were to continue to create more homes in well-designed neighbourhoods in its expanded geography in partnership with local communities, and to work with a partner with a proven track record in estate regeneration which Catalyst has a long and successful history of delivering.

Last month (June 2020), Catalyst retained its G1/V1 rating for governance and financial viability, following an in-depth assessment by the Regulator of Social Housing, and Rosebery was also graded G1/V1 in 2019.

Ian McDermott, Chief Executive of Catalyst, said: "Rosebery's strong reputation, clear values and local expertise make them a very attractive potential partner.

We now look forward to continue talking and getting to know and understand each other better.

Myself, our board and my executive team are open to thoughtful, gradual growth opportunities, and the approach from Rosebery fitted with that philosophy. We are not pursuing any other opportunities of this nature at this time, with our current focus remaining on fully embedding the integration with Aldwyck following last year's merger."

At present the proposals being considered by both boards are that Rosebery join Catalyst as a subsidiary with authority over a defined geography.

Please contact Michaela Booth, Director of Corporate Finance on [e-mail] for further information.

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August 03, 2020 06:00 ET (10:00 GMT)