Go to deals
Private Equity | Consumer & Retail

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.

Service
M&A sell-side
Parties
“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

Talk to the deal team

 John  Farrugia

John Farrugia

Managing Partner
London, United Kingdom
Oaklins Cavendish
 Rebecca  McCredie

Rebecca McCredie

Director
London, United Kingdom
Oaklins Cavendish
 Sam  Kavanagh

Sam Kavanagh

Associate Director
London, United Kingdom
Oaklins Cavendish
 Emily  Hill

Emily Hill

Senior Associate
London, United Kingdom
Oaklins Cavendish
 Tom  Holland-Hibbert

Tom Holland-Hibbert

Senior Analyst
London, United Kingdom
Oaklins Cavendish

Related deals

Ricotto has been acquired by Sitra Group
Private Equity | Logistics

Ricotto has been acquired by Sitra Group

Ricotto S.r.l. has joint Sitra Group, a Belgium-based and PE-backed international logistic and transportation group.

Learn more
M80 Partners has acquired Luminis
Private Equity | TMT

M80 Partners has acquired Luminis

Belgian private equity fund M80 has acquired a majority stake in Luminis. M80 offers to software and technology company Luminis the opportunity to further expand its strategy and market position internationally. Luminis becomes part of a platform that also includes XPLUS, a Belgian expert in enterprise IT architecture. M80 plans to make further selective acquisitions in Europe in the coming months with the aim of bringing together a portfolio of best-in-class digital transformation specialists.

Learn more
Spice Private Equity Ltd. has had a fairness opinion conducted on a public tender offer by GP Investments
Private Equity | Other Industries

Spice Private Equity Ltd. has had a fairness opinion conducted on a public tender offer by GP Investments

On 14 July 2022, GP Swiss Ltd., a subsidiary of GP Investments, published a public tender offer for all publicly held registered shares of Spice Private Equity Ltd. (Spice). The independent members of the Board of Directors of Spice have had a fairness opinion conducted on the financial adequacy of this public tender offer. The offer price for each Spice share was US$16.25 net in cash. Following a successful offer, GP Investment intends to delist the stock from the SIX Swiss Stock Exchange.

Learn more