 |
|
Homeserve in MBO
Homeserve Emergency Services (HES), a service provider to domestic insurance companies, has been bought out by private equity firm LDC for £11 million.
The management buy-out (MBO) from parent company Homeserve, which is listed on the Main Market of the London Stock Exchange, includes HES’s three trading businesses, Homeserve Glass and Locks, Homeserve Chem-Dry and Homeserve Content Services. The company will be rebranded as Evander Group.
Chris Hurley, investment director at LDC, describes HES as a ‘high-quality, market-leading business’ and says it has ‘strong brands and clear opportunities to deliver significant future growth’.
The MBO is led by CEO Jonathan Simpson-Dent, together with Alan Horton, Mark Taylor and Simon Hancox, respectively the managing directors of the glazing, flood damage and product replacement arms of HES.
M&A News
- Alterian's Intrepid acquisition Sep 01 2010
- Dwell unlocks £5 million funding Aug 31 2010
- Moonfruit raises expansion funds Aug 31 2010
- Compass acquires Vision Security Group Aug 31 2010
- BGC Partners buys Mint Aug 25 2010
Other M&A Deals
- Thermal Engineering bought by Privet Capital Jul 30 2010
- Foresight makes green investment Sep 01 2010
- MASI acquires AgriGuard Aug 25 2010