HomeServe buys rival for £53m

Home repairs and improvements business HomeServe has bought a UK rival for around £53 million.

Cable Drive
Cable Drive

CET Structures is a digitally-enabled UK home emergency assistance business.

In combination with HomeServe UK, based in Walsall, they serve 4.9 million homes.

HomeServe has 1.6m customers, CET serves 3m policies and 300,000 customers are served through HomeServe’s existing home emergency assistance arrangement with Aviva.

In the last financial year the two businesses completed around 700,000 jobs, with a combined network of about 4,000 directly employed and contractor engineers.

CET, which has its headquarters at Castle Donington, Leicestershire, provides emergency plumbing, heating and electrics services to home insurance policy holders on behalf of leading consumer brands, via its digital claims handling and job management platform.

John Kitzie, HomeServe UK chief executive, said: “We’re proud to bring CET into the HomeServe family, as the company shares a similar ethos to us, and it is also profitable and growing.

“Together, we will serve almost five million UK Customers, and we believe there are some very exciting opportunities to share best practice, expertise, technology and resources, so we can continue to develop the plumbing, heating and electrics services that are core to both our organisations.”

Group chief executive Richard Harpin said: “HomeServe’s UK business continues to deliver attractive returns and market leading service to our customers. The acquisition of CET represents a new avenue of growth closely aligned to our core business, as part of the UK team’s re-energised strategy to deliver growth through digitisation, improved marketing and new partnerships.”

Richard Thomas, senior investment director at Palatine, the previous owner of CET, commented: “The CET team have done an excellent job in growing the business through digitalisation, employee engagement and operational improvement. It’s been a pleasure partnering with the team and we wish them all the best on the next phase of their growth with HomeServe.”

The two businesses will now work together to explore opportunities to share resources, expertise and technology to further improve their service offerings.

CET will continue to operate under its own brand with its own client and customer base. It employs more than 300 staff in the UK.

The purchase of CET continues HomeServe’s expansion in the domestic gas boiler service and support market. The company also recently announced it had acquired Preston-based domestic heating business APG Domestic Services.

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