£4bn takeover of HomeServe set for early 2023 as profit rises for repairs firm DONE DEAL (ALMOST) A £4.1bn takeover of repairs firm HomeServe by a Canadian suitor is on track to be completed by early 2023 at the latest. The pipe-fixing company has been snapped up by Bidco, a subsidiary of Canadian company Brookfield Infrastructure funds. HomeServe said all necessary regulatory and competition approvals have now been obtained in the UK [...]
HomeServe agrees to £4bn acquisition with founding chief exec and his wife netting £495m Big move London-listed firm HomeServe has agreed to a £4bn acquisition, with its founder and his wife picking up a cool half-a-billion. The pipe-fixing company has been bought out by Bidco, a subsidiary of Canadian company Brookfield Infrastructure funds. As part of the agreement, each shareholder is entitled to 1,200 pence per share, with founder Richard Harpin’s [...]
HomeServe accelerates performance amid Covid-19 headwinds HomeServe Home repairs giant HomeServe has accelerated its performance despite Covid-19 headwinds. In the year ended 31 March, overall customer satisfaction and global policy retention went up in line with expectations, from 83 per cent last year to 84. In North America, despite the pandemic’s impact, policy retention remained high, at 85 per cent, while partner [...]
Homeserve to sell Piedmont policy book for $22m December 13, 2021 Home repairs international firm Homeserve announced this morning its intention to sell to gas company Piedmont its policy book, as shares went down 3.67 per cent. Homeserve cited PiedmonHomeserve cited Piedmont’s acquisition by US energy giant Duke as the main reason for selling the policy books built during the two companies’ partnership, set to expire [...]
Homeserve revenue jumps on strong North American performance May 18, 2021 Home repair firm Homeserve said that its revenue climbed 15 per cent last year, largely due to an exceptional performance in its North American division. The FTSE 250 firm said that revenue jumped to £1.3bn, up from £1.13bn the prior year. In its American business, which now has 4.7m customers, revenue jumped over a fifth [...]
Homeserve expects £10m profit jump as renovations boom during pandemic April 6, 2021 Homeserve said it expects to report a £10m jump in profit when it publishes its full-year results, due to the surge in demand for home improvements during the pandemic. Adjusted profit before tax for the financial year ended 31 March is expected to be around £191m, up from £181m in the previous year. It said [...]
Homeserve appoints ex-DCC boss as chairman January 27, 2021 Homeserve has this morning appointed Tommy Breen as its new chairman, the home improvements firm announced. Breen will replace long-serving Barry Gibson, who has held the role of chairman since 2010. He will step down in May, when Homeserve presents its full year results. Breen, a chartered accountant by training, joins the FTSE 250 firm [...]
Homeserve boosts profit forecasts as lockdown buoys firm November 17, 2020 Homeserve said it would beat current full year profit expectations after a strong first half saw the home repairs firm increase its revenue by nearly a fifth. The FTSE 100 company posted £536.7m in turnover for the first six months of the year, up 17 per cent on last year’s take. It said that the [...]
Homeserve sees revenue rise by double digit margin May 19, 2020 Home repairs firm Homeserve saw its revenue increase by a double digit margin in the last financial year, saying its prospects remained strong despite the coronavirus crisis. The FTSE 250 firm added that it had not seen a big increase in cancellations due to the disease, but had stopped its large marketing campaigns as a [...]
Homeserve maintains strong outlook as investors toast success across the pond May 21, 2019 Homeserve shares rose this morning as the home repairs company revealed double-digit profit growth last year, driven by success in its key North American market. The FTSE 250 utilities firm, which delivers maintenance to 8m people across the UK, US, France and Spain, added it expects more of the same next year even as it [...]