Pimlico Plumbers eyes float

Pimlico Plumbers, Britain’s biggest independent plumbing company, is considering a flotation which would value the firm at £50m, according to its founder Charlie Mullins.

Mullins, 57, was quoted over the weekend, saying he planned to keep a 50 per cent stake in the business and use the proceeds of the flotation to expand nationwide. In May, Mullins was in talks with Jim Zockoll, who founded Dyno-Rod, but the pair disagreed on Zockoll’s preferred strategy of franchising the business. Pimlico Plumbers, whose customers include Hugh Grant and Keira Knightley, had profits of £343,168 for the year to the end of May.