Thursday 3 June 2021 5:11 pm

Mullins in private equity talks that could value Pimlico Plumbers at £100m

Pimlico Plumbers boss Charlie Mullins is in talks to sell off part of his company, in a move that could value the business at £100m.

Mullins is in talks with private equity firms about a deal, and has hired Cavendish Corporate Finance to advise on the sale, Bloomberg first reported.

It is understood a number of private equity firms are interested.

Mullins said: “We are always looking out for investment. We are a growing company and want to expand both within London and further afield.

“We feel there are good opportunities for expansion at the moment, especially given some of the problems currently being experienced by large players such as British Gas.”

A source said if a sale goes through, Mullins, executive chairman of Pimlico Plumbers, and his chief executive son Scott would retain key roles at the business.

Mullins has become something of an outspoken celebrity in recent years.

He campaigned furiously against Brexit, even hanging a sign on the roof of Pimlico Plumbers HQ that said ‘b******s to Brexit.’

More recently, his company became the first in the UK to offer a “no jab, no job” policy, telling City A.M: “No vaccine, no job… When we go off to Africa and Caribbean countries, we have to have a jab for malaria — we don’t think about it, we just do it.

“So why would we accept something within our country that’s going to kill us when we can have a vaccine to stop it?”