Neighborly Inc.’s Acquisition Of Pimlico Plumbers

Mishcon de Reya has advised Charlie Mullins and his son Scott on the deal.

Charlie Mullins and his son Scott sold Pimlico Plumbers to Neighborly Inc., the world’s largest franchisor of home service brands, itself recently acquired by private equity firm, KKR.

Founded in 1979, Pimlico Plumbers has grown rapidly over recent years and has continued to thrive despite the pandemic and lockdown restrictions. Charlie Mullins started the company with nothing more than a second-hand van and a bag of tools, and has grown the family business to become the UK’s largest independent home services company with annual revenues of £50 million. 

For Neighborly, the acquisition of Pimlico Plumbers provides them with ownership of a widely recognised British brand and access to the UK market. Pimlico’s wide array of trade services as well as its commitment to customer care perfectly align with Neighborly’s purpose.

Mishcon’s Corporate Partner Dean Poster (Picture) led the Mishcon team with support from Managing Associate Sam Perkins, Associate Emma Webb, and trainees Hannah Ring and Charlie Wright. Private Equity Partner Allison Keyse advised on the equity piece, and Managing Associate, Sarah Hein advised on tax.

Involved fees earner: Sarah Hein – Mishcon de Reya; Allison Keyse – Mishcon de Reya; Sam Perkins – Mishcon de Reya; Dean Poster – Mishcon de Reya; Emma Webb – Mishcon de Reya;

Law Firms: Mishcon de Reya;

Clients: Mullins Charlie; Mullins Scott;

Author: Giulia Di Palma