Pimlico Plumbers has been acquired by Neighborly Inc. (KKR)

The founding shareholders of Pimlico Plumbers have sold the company to Neighborly Inc.

Founded in 1979 by Charlie Mullins, Pimlico Plumbers is the UK’s largest independent home services company. The business has grown rapidly throughout the UK over recent years and continued to grow during the pandemic and lockdown restrictions. Its core offerings comprise plumbing and heating repair both on a project-by-project and emergency call-out basis. However, in more recent years, the company has diversified its portfolio of services into drain unblocking, bathroom fit-outs, electrical repair, electrical appliances, carpentry, roofing and building.

Neighborly is the world’s largest franchisor of home service brands, operating a similar model to Pimlico Plumbers. The company is owned by KKR, one of the world’s largest private equity firms. This acquisition expands Neighborly to 29 brands across 19 service verticals and nearly 1,500 associates operating in nine countries. It provides them with ownership of a celebrated British brand and access to the UK market. Pimlico’s wide array of trade services and its exceptional customer care perfectly align with Neighborly’s purpose.

Oaklins Cavendish, based in the UK, advised the founding shareholders of Pimlico on the sale of the business.

TRANSAKSJONSTYPE

M&A - Salg av virksomhet

Parter

“I would like to thank all of those involved in the process that has concluded with us ultimately choosing Neighborly as our partner going forward, those at Oaklins Cavendish and our CFO Mike Bergin, without whom this would not have happened.”

Scott Mullins

President and CEO, Pimlico Plumbers

Kontakt ansvarlige rådgivere

John Farrugia

Principal

London, Storbritannia
Oaklins Cavendish

Se profil Ta kontakt med oss

Rebecca McCredie

Director

London, Storbritannia
Oaklins Cavendish

Se profil Ta kontakt med oss

Tom Holland-Hibbert

Senior Associate

London, Storbritannia
Oaklins Cavendish

Se profil Ta kontakt med oss

Relaterte transaksjoner

Jeco Energies has sold a significant minority interest to NPM Capital

Private equity | Energi

Jeco Energies has sold a significant minority interest to NPM Capital

NPM Capital has acquired a significant minority interest in Jeco Energies. By teaming up with NPM Capital, Jeco Energies is ready for the next step in its remarkable growth trajectory and strengthening its position as the leading industrial energy solutions provider.

Les mer

Piper PE and Cool Japan Fund have backed a management buy-out of Inside Travel Group

Detaljhandel

Piper PE and Cool Japan Fund have backed a management buy-out of Inside Travel Group

Inside Travel Group (ITG) has been sold to Piper PE and Cool Japan Fund. This acquisition aligns with ITG’s goal of becoming the leading specialist in tailor-made and group tours across Asia. Piper PE and Cool Japan Fund will continue to support ITG’s founders and management team, driving the business’ growth in Japan and other Asian destinations.

Les mer

Groupe JVS has completed an LBO with Capza and Bpifrance

Private equity | TMT

Groupe JVS has completed an LBO with Capza and Bpifrance

The shareholders of Groupe JVS have completed an LBO with Capza and BpiFrance. Parquest sold their shares after partnering with the organization for three years. Groupe JVS’s management team will increase its ownership and remain as the majority shareholder of the group, alongside CAPZA and Bpifrance.

Les mer