Perfect alignment between UK’s largest independent home services company and global franchisor

Deal Flash

Neighborly Inc. (Neighborly), the world’s largest franchisor of home service brands, has acquired Pimlico Plumbers (Pimlico), a leading independent emergency repair assistance provider to both the residential and commercial sectors in London.

Founded in 1979, Pimlico provides a suite of end-to-end services ranging from its core offerings of heating and plumbing to its ancillary services of electrics, carpentry, jetting, roofing, appliance repairs and air-con installation.

I would like to thank everyone involved in the process that has concluded with us choosing Neighborly as our partner going forward, especially Oaklins Cavendish and our CFO Mike Bergin, without whom this would not have happened. SCOTT MULLINS, CEO, PIMLICO PLUMBERS, UK

Oaklins played a major role in facilitating this deal

Oaklins Cavendish, based in the UK, advised Pimlico on the sale to Neighborly. The team gained a thorough understanding of the business through a comprehensive preparation stage. This enabled them to position Pimlico as a trusted premium brand with a highly differentiated customer proposition, all underpinned by robust financial and market fundamentals. The team successfully managed the process from inception to completion, obtaining a premium valuation and negotiating equitable terms on behalf of the shareholders.

Read more about the transaction, market trends, deal drivers and M&A valuation aspects