HomeServe

The company was originally established by Richard Harpin in 1993 as a joint venture between South Staffordshire Water and himself under the name of Fastfix to offer an emergency plumbing service.{{Cite web|url=https://www.businessleader.co.uk/in-it-for-the-long-game-blm-talks-to-homeserve-ceo/56843/|title=In it for the long game - BLM talks to Homeserve CEO {{!}} Business Leader News|last=Cotton|first=Barney|date=2018-12-11|website=Business Leader|language=en-GB|access-date=2020-03-02}}

In 1994, HomeServe diversified offering plumbing and drainage policies under the name "HomeServiceScheme".{{cite web|url=http://www.homeserveplc.com/history |archive-url=https://web.archive.org/web/20100531200022/http://www.homeserveplc.com/history |url-status=dead |archive-date=31 May 2010 |title=HomeServe History - About Us - HomeServe PLC |work=homeserveplc.com |access-date=28 March 2015 }} It launched Doméo, a joint venture in France in 2001, and Home Service in the United States in 2003.

After attempts to launch in Australia failed over objections made by the Australian Parliament, the water business was spun off from the rest of the group in 2004 and the company was changed to HomeServe PLC.{{cite news |url=https://www.independent.co.uk/news/business/news/south-staffs-plans-to-demerge-water-arm-70704.html |title=South Staffs plans to demerge water arm |last=Shah |first=Saeed |work=The Independent |date=24 February 2004 |access-date=17 March 2017}} Afterwards, it bought property repair company Reparalia in Spain in 2007, the French warranty provider SFG in 2009,[http://www.yorkshirepost.co.uk/business/business-news/homeserve_buys_france_s_sfg_1_2350646?action=logout HomeServe buys France's SFG] Yorkshire Post, 26 May 2009 and National Grid's service contract business in the United States in 2010.{{cite web|url=https://www.sharesmagazine.co.uk/news/market/3821951/HomeServe-takes-over-National-Grid-Energy-Services|title=HomeServe takes over National Grid Energy Services|date=4 April 2010|publisher=Shares Magazine}}

Seven years after opening it in Italy, the company sold 51% of Assitenza Casa in March 2017 to Edison{{Cite web|url=https://www.edison.it/en/edison-enters-home-services-market|title=Edison enters in the home services market|date=2017-03-02|website=Edison|access-date=2020-03-02}} - the rest of the business was sold in July 2019.{{Cite web|url=https://www.sharecast.com/news/news-and-announcements/homeserve-to-sell-stake-in-italian-business-trading-in-line--6846224.html|title=Homeserve to sell stake in Italian business|last=Prenesti|first=Frank|date=2019-07-19|website=Sharecast|language=en|access-date=2020-03-02}} Inaugurated in 2012, its venture in Germany was sold three years later due to being unsuccessful.{{Cite web|url=https://www.expressandstar.com/news/business/2012/10/30/walsall-based-homeserve-now-set-to-grow-again/|title=Walsall-based HomeServe now set to grow again|date=2012-10-30|website=Express & Star|language=en|access-date=2020-03-09}}{{Cite web|url=https://www.pwc.de/de/branchen-und-markte/tombstones/deal-announcement-homeserve-plc.html|title=Deal Announcement: HomeServe plc|date=2017-12-19|website=PwC|language=en|access-date=2020-03-09}}{{Cite web|url=https://www.wertgarantie.de/desktopdefault.aspx/tabid-717/1557_read-16961/|title=Wertgarantie Group übernimmt neue Gesellschaft und erweitert mit Schutzbriefen ihr Leistungsangebot - WERTGARANTIE|date=2015-09-28|website=Wertgarantie|language=de|access-date=2020-03-09}}

In 2016, it was featured on a list of "the best places to work in the UK" for the first time when it was ranked third in a list published by Glassdoor.{{cite news |url=https://www.telegraph.co.uk/business/2016/12/07/revealed-top-10-ukcompanies-work-2017/ |title=Revealed: the top 10 UK companies to work for in 2017 |last=Yorke |first=Harry |publisher=The Telegraph |date=6 December 2016 |access-date=17 March 2017}} Two years later, UK recruitment website Indeed named HomeServe the fourth best private sector employer in the region,{{Cite news|url=https://www.cnbc.com/2018/10/22/apple-named-best-private-sector-employer-in-the-uk.html|title=Apple named best private sector employer in the UK|last=Taylor|first=Chloe|date=2018-10-22|work=CNBC|access-date=2018-10-25}} based on millions of employee ratings and reviews.{{Cite news|url=http://blog.indeed.co.uk/2018/10/22/top-rated-workplaces-private-sector/|title=Top-Rated Workplaces: Best in the Private Sector - Indeed Blog|date=2018-10-22|work=Indeed Blog|access-date=2018-10-25|language=en-GB}}

File:HomeServe 4295 Arthur Kill Rd jeh.jpg

HomeServe's North American business has made a series of acquisitions, including Utility Service Partners in 2016,{{Cite web|url=https://www.businesswire.com/news/home/20160701005592/en/HomeServe-Completes-Acquisition-Utility-Service-Partners|title=HomeServe Completes Acquisition of Utility Service Partners, Inc.|date=2016-07-01|website=Businesswire|language=en|access-date=2020-03-10}} Dominion Products and Services in 2017,{{Cite web|url=https://www.businesswire.com/news/home/20171019005409/en/HomeServe-USA-Announces-Acquisition-Service-Plan-Business|title=HomeServe USA Announces Acquisition of the Service Plan Business of Dominion Products and Services, Inc.|date=2017-10-19|website=Businesswire|language=en|access-date=2020-03-10}} and in 2019 ServLine{{Cite web|url=https://www.businesswire.com/news/home/20191202005287/en/HomeServe-Acquires-ServLine|title=HomeServe Acquires ServLine|date=2019-12-02|website=Businesswire|language=en|access-date=2020-03-10}} and a 79% stake in eLocal.{{Cite web|url=https://www.morningstar.co.uk/uk/news/AN_1574153450082922000/homeserve-acquires-79-stake-in-elocal-posts-strong-interim-results.aspx|title=Homeserve Acquires 79% Stake In eLocal, Posts Strong Interim Results|last=Laniyan|first=Dayo|date=2019-11-19|website=Morningstar|access-date=2020-03-10}}

In 2017, it announced the acquisition of 40% of Checkatrade, an online directory of customer recommended tradespeople{{Cite web|url=https://www.telegraph.co.uk/business/2017/02/02/homeserve-seeks-digital-future-checkatrade-investment/|title=HomeServe seeks digital future with Checkatrade investment|last=Williams|first=Christopher|date=2017-02-02|website=Telegraph.co.uk|language=en|access-date=2018-03-25}} and took complete ownership later that year.{{Cite web|url=https://www.insidermedia.com/news/midlands/HomeServe-takes-complete-ownership-of-Checkatrade|title=HomeServe takes complete ownership of Checkatrade|last=Robinson|first=Jon|date=2017-11-21|website=Insider Media|language=en|access-date=2020-03-09}} Simultaneously, it took a 70% stake in Habitissimo, a Spanish web platform that connects homeowners to tradespeople{{cite web|author=por Magda Serra |url=https://blog.habitissimo.es/2017/02/03/el-grupo-britanico-homeserve-entra-en-casa-de-habitissimo-como-nuevo-inversor-de-referencia/ |title=El grupo británico HomeServe entra en casa de habitissimo como nuevo inversor de referencia | Blog de Habitissimo |publisher=Blog.habitissimo.es |access-date=2018-03-25}}{{Cite web|url=https://www.ft.com/content/784ae4b6-e9f2-11e6-967b-c88452263daf|title=HomeServe pays £37m for major stakes in trade checking sites|last=Thompson|first=Jennifer|date=2017-02-03|website=Financial Times|access-date=2020-03-02}} and purchased the remaining 30% in 2019.{{Cite web|url=https://www.morningstar.co.uk/uk/news/AN_1561022145961072700/homeserve-sets-out-plans-to-accelerate-growth-as-trading-in-line.aspx|title=Homeserve Sets Out Plans To Accelerate Growth As Trading In Line|last=Panchal|first=Tapan|date=2019-06-20|website=Morningstar|access-date=2020-03-09}}

In 2019, as business profits in the United States surpassed those in the United Kingdom,{{Cite web|url=https://www.investorschronicle.co.uk/shares/2019/05/22/homeserve-boosted-by-us/|title=HomeServe boosted by US|last=Karunaratne|first=Nilushi|date=2019-05-22|website=Investors Chronicle|language=en|access-date=2020-03-10}} HomeServe expanded into Japan by entering into a joint venture with the Mitsubishi Corporation.{{Cite web|url=https://www.businesswire.com/news/home/20190214005319/en/HomeServe-Establishes-Joint-Venture-Japan-Part-Global|title=HomeServe Establishes Joint Venture in Japan as Part of Global Partnership Strategy|date=2019-02-14|website=Business Wire|language=en|access-date=2020-03-02}}

During the 2020 COVID-19 pandemic lockdown, the company offered free emergency repairs to NHS and social care workers in the UK{{Cite web|last=Thicknesse|first=Edward|date=2020-05-19|title=Homeserve sees revenue rise by double digit margin|url=https://www.cityam.com/homeserve-sees-revenue-rise-by-double-digit-margin/|access-date=2020-06-11|website=CityAM|language=en-GB}} and introduced a telephone-based repair advice service in the US.{{Cite web|date=2020-05-07|title=HomeServe to help with DIY repair projects through new 'Telefix' service|url=http://connecticut.news12.com/story/42099231/homeserve-to-help-with-diy-repair-projects-through-new-telefix-service|access-date=2020-06-11|website=connecticut.news12.com|language=en}}

Four months after it was reported that Brookfield Asset Management was considering buying it,{{Cite news |first=Patrick |last=Hosking |title=Canadian property fund Brookfield mulls offer for Homeserve |newspaper=The Times |language=en |url=https://www.thetimes.com/business-money/markets/article/canadian-property-fund-brookfield-mulls-offer-for-homeserve-3fhr6r72m |access-date=2022-05-17 |issn=0140-0460}} HomeServe agreed to recommend a £4.08 billion bid in July 2022.{{cite news|url=https://www.morningstar.co.uk/uk/news/AN_1662574220179548600/soon-to-be-acquired-homeserve-to-replace-outbound-avast-on-ftse-100.aspx|title=Soon-to-be-acquired Homeserve to replace outbound Avast on FTSE 100|date=7 September 2022|newspaper=Morning Star|access-date=16 December 2022}} In December, it announced that all conditions for the takeover had been met, so allowing the transaction to proceed.{{cite news|url=https://www.morningstar.co.uk/uk/news/AN_1671018544068623400/top-news-homeserve-says-conditions-for-takeover-by-brookfield-met.aspx |title=Homeserve says conditions for takeover by Brookfield met|date=14 December 2022|newspaper=Morning Star|access-date=3 January 2023}}

In January 2023, it was announced that its acquisition by Brookfield Asset Management has been completed.{{cite web|url=https://www.mccarthy.ca/en/work/cases/brookfield-asset-management-acquires-homeserve-ps408b|title=Brookfield Asset Management acquires HomeServe for £4.08 billion|publisher=Mccarthy Tetrault|access-date=21 August 2023}}

In 2010, HomeServe signed a one-year, £750,000 deal to be the official sponsor of then Premier League club West Bromwich Albion F.C. for the 2010/11 season.{{cite news |url=https://www.expressandstar.com/sport/2010/06/25/albions-club-record-sponsorship-deal/ |title=Albion sign club-record sponsor deal |date=25 June 2010 |publisher=Express and Star |access-date=17 March 2017}} The club had previously sponsored a stand at West Bromwich Albion's neighbouring clubs, Walsall F.C. In 2014, HomeServe signed a three-year deal to sponsor the Main Stand at Walsall F.C.'s Bescot Stadium.{{cite web |url=http://www.saddlers.co.uk/news/article/homeserve-stand-sponsorship-feb-2014-1344795.aspx |title=Saddlers announce Stand Sponsorship |date=10 February 2014 |publisher=Walsall F.C. |access-date=17 March 2017}} Later in 2014, it was announced that HomeServe would be the official kit sponsor of Walsall F.C. in a three-year deal.{{cite news |url=https://www.expressandstar.com/sport/walsall-fc/2014/06/03/walsall-announce-new-shirt-sponsor-as-201415-kits-are-unveiled/#g4rrwaBD8OU5h5md.99 |title=Walsall announce new shirt sponsor as 2014/15 kits are unveiled |publisher=Express and Star |date=3 June 2014 |access-date=17 March 2017}} In 2017, HomeServe signed a five-year deal with Walsall F.C.{{Cite web|url=https://www.expressandstar.com/sport/football/walsall-fc/2017/05/25/walsall-announce-new-sponsorship-deal-with-homeserve/|title=Walsall announce new sponsorship deal with HomeServe|last=Masi|first=Joseph|date=2017-05-25|website=Express & Star|language=en|access-date=2020-03-02}}

During the period 2008 to 2011 the UK business breached the Financial Conduct Authority's Principles of Business, in particular mis-selling of policies to customers. As a result, HomeServe suspended all UK sales activity between October 2011 and January 2012 for retraining sales staff{{Cite news|last=Osborne|first=Hilary|url=https://www.theguardian.com/money/2011/oct/31/homeserve-suspends-sales-mis-selling-fears|title=HomeServe suspends all sales over mis-selling fears|date=2011-10-31|work=The Guardian|access-date=2020-03-09|language=en-GB|issn=0261-3077}}{{Cite web|url=https://moneyweek.com/23366/homeserve-close-to-restarting-outbound-calls-120329-0753-68361|title=HomeServe close to restarting outbound calls|date=2012-03-29|website=MoneyWeek|language=en|access-date=2020-03-09}}{{Cite news|last=Dunkley|first=Jamie|url=https://www.telegraph.co.uk/finance/newsbysector/supportservices/9069609/Homeserve-to-make-200-UK-job-cuts-after-mis-selling-scandal.html|title=Homeserve to make 200 UK job cuts after mis-selling scandal|date=2012-02-08|access-date=2020-03-09|language=en-GB|issn=0307-1235}} and was fined £30,647,400 by the FCA in 2014.{{Cite web|url=https://www.fca.org.uk/news/press-releases/homeserve-fined-%C2%A330-million-widespread-failings|title=HomeServe fined £30 million for widespread failings|date=2014-02-13|website=FCA|language=en|access-date=2020-03-09}} Throughout this period, three private equity groups looked to acquire the company but were rejected by HomeServe's board.{{cite news|last=Ebrahimi|first=Helia|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/9407043/Homeserve-knocks-back-private-equity-approach.html|title=HomeServe knocks back private equity approach|date=18 July 2012|access-date=17 March 2017|publisher=The Telegraph}}

In April 2012, Ofcom imposed a fine of £750,000 for making silent and abandoned calls to prospective customers in the period February to March 2011.{{Cite web|url=https://www.ofcom.org.uk/about-ofcom/latest/media/media-releases/2012/homeserve-fined-750000-for-silent-and-abandoned-calls|title=HomeServe fined £750,000 for silent and abandoned calls|date=2012-04-19|website=Ofcom|language=en|access-date=2020-03-09}}{{Cite news|last=Rushton|first=Katherine|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/9215018/Homeserve-hit-with-record-750000-fine-by-Ofcom-over-nuisance-calls.html|title=Homeserve hit with record £750,000 fine by Ofcom over nuisance calls|date=2012-04-20|work=The Telegraph|access-date=2020-03-09|language=en-GB|issn=0307-1235}} It has since ceased the practice of cold-calling customers.{{Cite news|last=Hosking|first=Patrick|url=https://www.thetimes.com/business-money/markets/article/homeserve-boss-hopes-fortune-favours-the-brave-in-race-for-world-domination-kx8gdcbcp|title=Homeserve boss hopes fortune favours the brave in race for world domination|date=2019-06-15|work=The Times|access-date=2020-03-09|language=en|issn=0140-0460}}

{{reflist|30em}}

• [https://www.homeserveplc.com Corporate site]
• {{OpenCorp|HomeServe}}

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Category:Companies based in the West Midlands (county)

Category:Business services companies established in 1993

Category:Companies listed on the London Stock Exchange

Category:2023 mergers and acquisitions