Synergy’s shareholders unanimously voted in favour of the merger, which would see it joining forces with Aster to create a combined organisation, subject to approval from the Homes & Communities Agency.
Synergy and Aster together manage more than 26,000 affordable homes across central southern and south west England and build properties for affordable rent and sale.
In a joint statement, Synergy chief executive Graeme Stanley and Aster Group chief executive Bjorn Howard said: “This is a major step forward in our proposal to merge and we’re delighted Synergy’s shareholders have responded so positively to our plans. Synergy and Aster share the same vision and values and customers are at the heart of everything both organisations do. Bringing together our joint expertise would be beneficial for everyone – not only would we be ideally placed to deliver better services to customers and build more homes, we believe it will also make us a more attractive partner to central and local government.
“Following the approval of Synergy’s shareholders, we’ll now continue to discuss details of the proposal with customers, staff, local authority partners, the regulatory authorities and other stakeholders. We hope to formally announce the successful merger in the autumn.”