Hyde acquires Pinnacle to deliver a game changing moment for housing sector

Posted on 31 October 2024

We’re pleased to share the news that the Pinnacle Group (Pinnacle) is joining the Hyde Group.  

Pinnacle is a national organisation that looks after over 70,000 homes on behalf of central and local government, investors and housebuilders. It also provides neighbourhood services on behalf of social housing providers, and delivers services supporting schools, hospitals, and local councils.  

We’re making a strategic investment to bring Pinnacle into the Hyde Group. This will help strengthen Hyde by generating additional resources, so we can meet the needs of our customers better. There won’t be any immediate changes to services for Hyde customers, and your dedicated neighbourhood and repairs teams remain unchanged. 

Pinnacle will join the Hyde Group and operate as a subsidiary, keeping its existing team and continuing to deliver services to existing clients through its own day-to-day management. Hyde colleagues will continue to be focused on delivering great homes and services for Hyde customers. 

By working together, we’re excited about being able to offer even more customers across the country the opportunities to access the great services we provide.    

Andy Hulme, Group Chief Executive Officer of The Hyde Group, said: “We’re delighted to be welcoming Pinnacle into the Hyde Group. By combining our shared knowledge and expertise, we’ll create communities that people can be proud of and deliver services they can rely on.” 

Frequently asked questions

  • What will this mean for existing Hyde customers?

    There won’t be any immediate changes to the services we provide Hyde customers because of this investment. Pinnacle will operate as a subsidiary as part of the wider Hyde Group, managing its own day-to-day activity. While in future we may look at opportunities around services Pinnacle offers and how they could benefit Hyde customers, there aren’t any changes planned at the moment.  

  • Will the investment in Pinnacle affect Hyde’s ability to invest in customers’ homes and services?

    This strategic investment will generate additional resources to support the work we do to maintain and improve existing Hyde customers’ homes and services. The transaction will not have a direct effect on the rents and service charges customers pay, and the investment is funded by borrowing money over a long-term, not Hyde’s day-to-day budgets.   

  • How will Hyde continue to keep its focus as a housing association now that the Hyde Group has grown?

    This investment is all about supporting us to deliver on our mission to provide homes and communities that people are proud of. We’ll be generating additional resources and to better meet the needs of current and future communities and customers.

    Hyde’s leadership team will continue to be focused on delivering great homes and services for Hyde customers, with Pinnacle continuing to operate as a subsidiary with its own team delivering its operations.

    As a Group, we bring together organisations that share a commitment to providing great homes and services, and supporting the communities we work with. Partnerships with organisations that share our values and focus on customers is part of our long-term strategy to help us do more for our customers and to meet our founding social purpose.

  • Does this affect the proposed partnership with THCH?

    No, this is a strategic investment acquiring Pinnacle and doesn’t impact the conversations we’re having with THCH. We continue to engage positively with THCH and we’ll continue to share updates on those discussions.