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."
Pinsent Masons is an established, full service law firm with truly international reach, a reputation for delivering both world class service quality and excellent value, providing a full range of corporate, financial and commercial legal services to major UK and international corporations, institutions and public bodies.
The firm ranks amongst the top 100 global law firms and has well over 1,000 partners and other lawyers worldwide.
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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