Third acquisition complete for HomeServe
HomeServe has revealed its acquisition of a Herefordshire based heating firm, as its continues to expand its boiler installations business.
The Walsall-based firm has acquired Hereford Heating, which employs 30 people, and last year installed around 400 boilers for its 6,500 customers.
The move gives the FTSE 250-listed company a larger footprint in the region, with Hereford Heating set to retain its name and continue to operate as normal.
It also supports HomeServe’s ambitions to take on new low energy technologies.
Hereford Heating adds to the three firms who joined HomeServe UK during the last financial year, taking its ownership to five companies in total.
The firm bought Castle Donington claims management insuretech firm, CET Property Assurance in a deal worth around £53m, Aqua Plumbing and Heating, and APG Domestic Services, for undisclosed sums.
Richard Shepherd, HomeServe’s managing director of installations, said Hereford Heating, “boast an outstanding local reputation for excellent customer service alongside strong profitability.
“We are committed to continuing to identify solid, profitable heating services firms to expand our portfolio even further.
Rob Nash, founder and managing director of Hereford Heating, added: “Joining HomeServe is great news for our business – providing us with growth opportunities and vital, long-term stability.
“Working tirelessly for the people of Herefordshire and the surrounding areas over the past 15 years, each of my team shares my passion for the job and pride in delivering excellent customer service. Now, as part of a global, FTSE-250 organisation, we are very excited for what the future holds.”
A team from Squire Patton Boggs, led by corporate partner Geoff Perry and associate Dominique Hibell, advised HomeServe on the transaction.
