The Hyde Group has acquired community housing services provider Pinnacle Group in a strategic investment to deliver what has been described as a “game-changing moment” for the housing sector.

Under the purchase, completed for an undisclosed sum, Pinnacle will operate as an independent subsidiary within the Hyde Group, retaining its clients, management and employees.

The move forms part of Hyde’s broader ambitions to become a significant national housing and property services management organisation. The company said its charitable and social purpose is unchanged, and any surplus Hyde generates will be reinvested into the communities it operates in.

The expanded group is now one of the UK’s largest housing, property, and community services providers with more than 200 sites and around 5,000 members of staff. 

The group owns and runs about 120,000 homes across all occupancy types, and provides neighbourhood services to 350,000 homes. It also works with schools, universities, local authorities, housing associations, emergency services as well as private sector bodies. .

The group said it aims to expand the growth of its housing services platform to private and public sector clients at a national level, supporting the delivery of homes across all tenures, with a focus on affordable homes.

Andy Hulme, Hyde’s group CEO, said: “We’re delighted to be welcoming Pinnacle colleagues, customers, and clients into the Hyde Group. This is a game-changing moment for Hyde, our current and future customers, and the wider housing sector. By combining our shared knowledge and expertise, we’ll be able to accelerate our growth and improve our services to both build and create communities that people can be proud of.

“By prioritising communities and embracing innovation, we’ll simultaneously improve service delivery to existing customers and accelerate access to the market-leading services we offer, meaning we can do more, for more communities, and play our role in support of the government’s housing strategy.”

Perry Lloyd, Pinnacle Group chief executive, added: “By combining our strengths, we can innovate more effectively and deliver high-quality, well-managed homes and communities nationwide.”