Pinsent Masons advises Homeserve on the sale of HES Disposal Division
25 Sep 2009 | 06:03 am | 1 min. read
International law firm Pinsent Masons has advised HomeServe on the sale of its Emergency Services Division (excluding the HomeServe Property Repairs Group) (the “HES Disposal Division”) to a newly incorporated company owned by Lloyds TSB Development Capital Limited and management for a total consideration of up to £11 million (before transaction costs).
The HES Disposal Division consists of the businesses operated by HomeServe Glass & Locks, HomeServe Contents Services and Chem-Dry. These businesses provide repair and replacement services primarily to the end customer/ policyholder of general insurers in the United Kingdom through a network of directly employed, franchised and sub-contract engineers.
The Pinsent Masons team advising on the deal included Paul Harkin, Nicole Livesey, Emma Callow, Carl Scott and Emma Metcalfe.
Commenting on the transaction, Nicole said:
"We are delighted to have advised HomeServe on this sale which will enable HomeServe to focus on the Group’s higher margin, higher growth membership businesses."
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Enquiries:
HomeServe Plc Tel: 01922 655 332
Richard Harpin, Chief Executive
Martin Bennett, Chief Financial Office
Mathew Wootton, Investor Relations Director
Tulchan Group Tel: 020 7353 4200
Andrew Honnor
Stephen Malthouse
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