Centrus cements its leading role in M&A in the Housing Sector – Optivo

Transaction Overview

AmicusHorizon and Viridian have recently amalgamated to form a new organisation named Optivo. Optivo will be amongst the largest housing associations in the UK and will have the capacity to build 1,500 homes every year from 2021. The organisation will provide over 44,000 homes for 90,000 people in London, the Midlands, and South-East England, with an annual turnover of £306 million. Optivo plans to invest £3.5 billion in new homes over the next 10 years and expects to raise £1.5 billion new finance to support its growth programme – putting the business in a powerful position to tackle the housing crisis.

Our Role

Centrus’ role as strategic treasury advisor allowed Optivo to gain the consent and support of existing lenders, drawing on our expertise and market insight, achieving outcomes which will empower the combined organisation to move forward with enhanced strength and capacity to meet its aspirations for growth. Centrus’ role also included advice around debt capital markets (DCM), derivatives, credit ratings, accounting and financial modelling.

“Centrus played a crucial role in helping us to navigate through a very challenging transaction, providing insight and guidance which enabled us to engage effectively with a range of stakeholders. We set clear objectives at the outset which Centrus’ contributions ensured we exceeded. Optivo is now very well placed to deliver against its growth ambitions.”

Sarah Smith, Executive Director Finance & Resources – Optivo

Centrus is currently engaged on further seven mergers, at various stages, involving Registered Providers of differing sizes and complexities, across England & Wales.

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