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."

For further information please contact:

Unni Schmidt
PR Adviser
Pinsent Masons,
[email protected]
DDI: 020 7418 7009
Mob: 07824 569324

Notes to Editors:

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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