The world’s largest franchisor of residence service manufacturers, has introduced the acquisition of Pimlico Plumbers, central London’s main impartial residential and industrial service and upkeep firm.
As we reported final week Neighborly have been in superior discussions to buy Pimlico, and the deal ends in the London primarily based upkeep firm turning into a corporate-owned subsidiary, increasing Neighborly to 29 manufacturers throughout 19 service verticals and almost 1,500 associates working in 9 international locations.
“We’re thrilled to be rising our international footprint with the addition of Pimlico as the subsequent subsidiary model to hitch our international household of residence service professionals,” mentioned Mike Bidwell, President and CEO of Neighborly. “Pimlico’s big selection of commerce providers in addition to its distinctive buyer care completely align with Neighborly’s function, which is to construct an intensive service neighborhood recognized for offering glorious experiences. We’re excited for the expansion to come back for each Pimlico and Neighborly because of this acquisition.”
Based in 1979 by Charlie Mullins, Pimlico operates primarily based on its imaginative and prescient as a service and upkeep firm that gives “Extra Than Simply Plumbers.” Whereas Mullins began the corporate by working from residence with nothing greater than a second-hand van and a bag of instruments, right this moment the group brings in annual income of almost $70 million and is acknowledged because the UK’s first branded plumbing firm, in addition to one of many best-known constructing providers corporations on the planet.
Pimlico’s providers embrace heating, plumbing, bogs, drainage, electrics and extra. With the help of greater than 400 associates, the corporate prides itself on finishing a mean of greater than 100,000 service jobs for central London owners and companies every year.
“Neighborly is well-respected throughout the globe because the driving pressure behind so many respected manufacturers within the residence service and upkeep trade,” mentioned Scott Mullins, President and CEO of Pimlico. “Even after Pimlico’s 40-plus years of impartial enterprise success, Neighborly’s confirmed monitor file for progress and its dedication to its Code of Values assures that we’ve discovered a like-minded firm that may assist us develop. This marks a serious worldwide milestone for each organizations, and I’m excited in regards to the continued innovation and prosperity that’s positive to comply with for us all.”
“I want to pay tribute to my father Charlie, for creating the enterprise out of nothing. I want to thank all of these concerned within the course of that has concluded with us in the end selecting Neighborly as our companion going ahead, these at finnCap Cavendish and our CFO Mike Bergin, with out whom this is able to haven’t occurred.”
Scott Mullins will preserve his function as Pimlico’s main govt following the acquisition; his father Charlie Mullins has stepped down because the proprietor of Pimlico.