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Mishcon de Reya advises Charlie Mullins on the sale of Pimlico Plumbers to Neighborly Inc.

Posted on 21 September 2021

Mishcon de Reya has advised Charlie Mullins and his son Scott on the sale of Pimlico Plumbers to Neighborly Inc., the world’s largest franchisor of home service brands, itself recently acquired by private equity firm, KKR.

Founded in 1979, Pimlico Plumbers has grown rapidly over recent years and has continued to thrive despite the pandemic and lockdown restrictions. Charlie Mullins started the company with nothing more than a second-hand van and a bag of tools, and has grown the family business to become the UK's largest independent home services company with annual revenues of £50 million. Mishcon has acted for Pimlico and the Mullins family for many years across a wide range of services, including recently advising on the landmark case relating to workers' rights in the Supreme Court.

For Neighborly, the acquisition of Pimlico Plumbers provides them with ownership of a widely recognised British brand and access to the UK market. Pimlico’s wide array of trade services as well as its commitment to customer care perfectly align with Neighborly’s purpose.

Corporate Partner Dean Poster led the Mishcon team with support from Managing Associate Sam Perkins, Associate Emma Webb, and trainees Hannah Ring and Charlie Wright. Private Equity Partner Allison Keyse advised on the equity piece, and Managing Associate, Sarah Hein advised on tax.

Charlie Mullins commented "Dean and the wider Mishcon de Reya team provided the highest standard advisory service throughout the transaction, adding value with their technical knowledge, experience and clear understanding of the key issues involved. The team were responsive and committed to driving the deal to a successful completion for all parties involved.  I look forward to working with them again in the future."

Dean Poster commented "It has been a pleasure advising Charlie on the sale of Pimlico Plumbers to Neighborly. Having acted for both Charlie and Pimlico Plumbers for several years, we felt we were best placed to provide valuable and trusted advice throughout the transaction and we look forward to working together again."

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