Inprova buys 80% stake in benchmarking firm co-founded by the National Housing Federation and the Chartered Institute of Housing
A procurement services firm has bought a majority stake in housing benchmarking business Housemark.
Inprova, based in Cheshire, has acquired an 80% stake in the firm, which was previously co-owned by the National Housing Federation (NHF) and the Chartered Institute of Housing (CIH).
CIH and NHF, which founded Housemark 1999 as a private limited joint venture company, will each retain a 10% stake.
Inprova, which describes itself as a “technology-enabled procurement and efficiency partner”, works with public and private bodies to help manage spend, drive value and improve operational performance.
Kate Henderson, chief executive of the NHF and Gavin Smart chief executive of CIH, said: “Housemark has supported the housing sector with trusted data and insight for over 25 years. As the sector continues to evolve, the demand for robust, actionable data has never been greater.
“We are incredibly proud of what Housemark has achieved, enabled by their board and management team. Together, we’re excited about what comes next with Inprova’s investment and insight.”
Steven Malone, group chief executive of Inprova, said: “This investment reflects our confidence in Housemark’s role and importance within the social housing sector”.
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