HomeServe UK continues acquisition streak with seventh deal
Walsall-based HomeServe UK continues expanding its ownership of locally branded boiler companies with the announcement of its seventh acquisition.
The newest addition to the HomeServe stable is a London-based, family run business launched in 2004 by husband-and-wife team Guy and Sally Holdsworth-Hunt.
Based in Tolworth, H2 Property Services employs 23 people and has a database of around 20,000 customers in the Greater London area.
It offers boiler installations and gas, plumbing and electrical repair and service work split between a mixture of private work and property management services.
The company has recently launched an additional service, installing Electric Vehicle (EV) chargers.
“Adding H2 Property services to our growing portfolio of locally branding heating companies is a great result, said Richard Shepherd, managing director of HomeServe Installations.
“It’s well run, profitable and has a great reputation with Customers, which are key metrics we require as part of our acquisition strategy. In addition – its base location increases our footprint in Greater London and its move into EV chargers give us a great platform for broader growth and expansion. H2’s owners Guy and Sally have built a strong business and we’re all keen to work closely together to grow it further.”
This latest acquisition increases HomeServe’s installations portfolio to seven local boiler companies with more in the pipeline as it continues its buy and build strategy of buying well-run, profitable, local businesses.
Guy Holdsworth-Hunt added: “We are extremely excited to join the HomeServe team. Having been approached and following a meeting with Richard Shepherd outlining his vision we were left in no doubt that this was the best decision we could make to safeguard the future of H2 Property Services and all our employees. The resources and backing we now have will allow us to confidently look to the future and adapt to the changing energy market and continue to offer our customers the best possible advice and service possible. We could not be more excited about the next 10 years.”
The deal comes in the same month Homeserve announced the sixth addition to its portfolio with the acquisition of Essex-based plumbing and heating maintenance firm Koziwarm.