Pimlico Plumbers adds to Neighborly’s portfolio and expands its presence in the U.K. with this acquisition.
Neighborly announced the acquisition of one of London’s most well-known residential and commercial maintenance brands, Pimlico Plumbers. Through this acquisition, Neighborly now owns 29 brands across 19 service verticals and nearly 1,500 associates operating in nine countries.
“We are thrilled to be growing our global footprint with the addition of Pimlico as the next subsidiary brand to join our global family of home service professionals,” said Mike Bidwell, president and CEO of Neighborly.
“Pimlico’s wide array of trade services as well as its exceptional customer care perfectly align with Neighborly’s purpose, which is to build an extensive service community known for providing excellent experiences.
“We are excited for the growth to come for both Pimlico and Neighborly as a result of this acquisition.”
The brand was founded in 1979 by Charlie Mullins, with little more than a van and a set of tools to his name with the aim to be “More Than Just Plumbers.” Success has seen the brand bring in annual revenue of nearly $70m and the U.K.’s first plumbing services brand, and is also seen as a high-quality building services firm.
Pimlico’s services include plumbing, heating, drainage, electronics, bathrooms and more. The brand completes around 100,000 jobs a year for its London-based homeowners and businesses.
“Neighborly is well-respected across the globe as the driving force behind so many reputable brands in the home service and maintenance industry,” said Scott Mullins, president and CEO of Pimlico.
“Even after Pimlico’s 40-plus years of independent business success, Neighborly’s proven track record for growth and its commitment to its code of values assures that we’ve found a like-minded company that can help us grow.
“This marks a major international milestone for both organizations, and I am excited about the continued innovation and prosperity that is sure to follow for us all.
“I would like to pay tribute to my father Charlie, for creating the business out of nothing. I would like to thank all of those involved in the process that has concluded with us ultimately choosing Neighborly as our partner going forward, those at finnCap Cavendish and our CFO Mike Bergin, without whom this would have not happened.”
Scott Mullins will continue as the leading executive for Pimlico following the acquisition, and Charlie Mullins has stepped down as the owner.