The worlds largest franchisor of home service brands, has announced the acquisition of London based Pimlico Plumbers, an independent residential and commercial service and maintenance company.
The deal will see founder Charlie Mullins offload his 90% stake in the group and is expected to be worth between £125m and £145m, according to the Financial Times.
The entrepreneur’s son, Scott Mullins, will retain a stake of about 10%, and continue his role as chief executive.