Homeserve Unveils £6.5m Deal

The UK's largest supplier of emergency glazing and household repairs yesterday boosted its business with a £6.5m deal.

Homeserve Emergency Services, based in Norwich and a major employer in the city, will be able to widen its reach nationally through the acquisition of Pilkington Glazing by parent company Homeserve PLC.Homeserve Emergency Services is the biggest provider of emergency repairs to insurance companies, with services ranging from emergency glazing and locks to plumbing and drains repairs. The businesses were formerly known as Highway Emergency Services, but were rebranded a year ago.

Yesterday, Walsall-based Homeserve PLC announced it had agreed terms with Pilkington United Kingdom to acquire the business and assets of the glazing division of Pilkington Building Products (Pilkington Glazing) for £6.5m. The acquisition is expected to completed on April 21.

Pilkington Glazing is a nationwide domestic and commercial glazing repair business operating from seven regional branches across England and Wales employing 113 people, including 44 glaziers. The business also operates an extensive nationwide sub-contractor network.

Pilkington Glazing reported pre-tax profits of £900,000 on a turnover of £15.2m for the year to March 31, 2005.

Ian Carlisle, chief executive of Homeserve Emergency Services, said: “Pilkington Glazing's customer base is complementary to that of Homeserve's existing glass and locks business. The acquisition builds on Homeserve's offering, adding a proven commercial glazing capability and provides access to a high quality sub-contractor network.”

He added: “The acquisition presents an exciting opportunity for the development of our glass and locks business, allowing us to offer our customers a market leading commercial glazing solution.”

You can find the entire news article on the website below...

600450 Homeserve Unveils £6.5m Deal glassonweb.com
Date: 10 April 2006
Source: Business.edp24.co.uk

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