Homeserve

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HomeServe PLC
Public
Traded as LSEHSV
Industry Support Services
Home emergencies and repairs
Founded 1993; 24 years ago (1993) in Walsall, West Midlands, UK
Founder Richard Harpin
South Staffordshire Water
Headquarters Walsall, West Midlands, United Kingdom
Key people
J M Barry Gibson Chairman
Richard Harpin CEO
Revenue £633.2 million (2016)[1]
£86.9 million (2016)[1]
Profit £61.6 million (2016)[1]
Website www.homeserveplc.com
Aerial view of Headquarters in Walsall, UK

HomeServe PLC is a home emergency repairs business. The Company was established as a joint venture by South Staffordshire Water and Richard Harpin in 1993. It later de-merged from South Staffordshire Water becoming a publicly listed company on the London Stock Exchange.

History

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. In 1994, the company diversified offering plumbing and drainage policies under the name "HomeServiceScheme".[2] It launched Doméo, a joint venture in France in 2001,[2] and Home Service in the United States in 2003.[2] Attempts to launch in Australia failed, after objections were raised in the Australian Parliament. The water business was demerged from the rest of the Group in 2004 and the name of the Company was changed to HomeServe PLC.[3]

The Company bought property repair company Reparalia in Spain in 2007,[2] the French warranty provider SFG in 2009[4] and National Grid's service contract business in the United States in 2010.[5]

The Company suspended all sales activity amid claims of mis-selling by its call centre staff in 2011. Earlier in the year HomeServe was investigated by Ofcom after it was suggested call centre staff were ringing homes and then abandoning the calls before speaking, leaving customers with silence. In February 2012 HomeServe announced that it was to pay off 200 staff[6] and in April 2012 Ofcom imposed a fine of £750,000 for making silent and abandoned calls to prospective customers.[7] In May 2012 they announced that they were failing an investigation by the Financial Services Authority over 'certain historic issues'.[8] Throughout this period, three private equity groups looked to acquire the company but were rejected by HomeServe's board.[9] In January 2014, the company received a £34m penalty for mis-selling practices.[10]

In a list of the "best places to work in the UK" published by Glassdoor in 2016, HomeServe was placed third, being an entry in the list for the first time.[11]

In 2017, HomeServe announced the deal to acquire the 40pc of Checkatrade,[12] the online directory of customer recommended tradespeople. Simultaneously, the Company bagged a 70pc stake in Habitissimo.[13] Habitissimo is a Spanish website that also works connecting homeowners to tradespeople. The investments are part of HomeServe's international expansion to digital business.

Sports Sponsorship

In 2010, HomeServe signed a one-year, £750,000 deal to be the official sponsor of then Premier League football club West Bromwich Albion for the 2010/11 season.[14] 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.[15] Later in 2014, it was announced that HomeServe would be the official kit sponsor of Walsall F.C. in a three-year deal.[16]

References

  1. ^ a b c "Preliminary Results 2016" (PDF). Homeserve. Retrieved 17 March 2017. 
  2. ^ a b c d "HomeServe History - About Us - HomeServe PLC". homeserveplc.com. Archived from the original on 31 May 2010. Retrieved 28 March 2015. 
  3. ^ Shah, Saeed (24 February 2004). "South Staffs plans to demerge water arm". The Independent. Retrieved 17 March 2017. 
  4. ^ Homeserve buys France's SFG Yorkshire Post, 26 May 2009
  5. ^ Homeserve deal for National Grid This is money, 15 April 2010
  6. ^ Repair Firm HomeServe To Shed 200 UK Jobs Sky News, 8 February 2012.
  7. ^ "Homeserve hit with record £750,000 fine by Ofcom over nuisance calls". The Telegraph. 20 April 2012. Retrieved 17 March 2017. 
  8. ^ Homeserve to face FSA probe ShareCast, 22 May 2012
  9. ^ Ebrahimi, Helia (18 July 2012). "Homeserve knocks back private equity approach". The Telegraph. Retrieved 17 March 2017. 
  10. ^ "Homeserve facing £34m FCA penalty". BBC. 13 January 2014. Retrieved 17 March 2010. 
  11. ^ Yorke, Harry (6 December 2016). "Revealed: the top 10 UK companies to work for in 2017". The Telegraph. Retrieved 17 March 2017. 
  12. ^ http://www.telegraph.co.uk/business/2017/02/02/homeserve-seeks-digital-future-checkatrade-investment/
  13. ^ https://blog.habitissimo.es/2017/02/03/el-grupo-britanico-homeserve-entra-en-casa-de-habitissimo-como-nuevo-inversor-de-referencia/
  14. ^ "Albion sign club-record sponsor deal". Express and Star. 25 June 2010. Retrieved 17 March 2017. 
  15. ^ "Saddlers announce Stand Sponsorship". Walsall F.C. 10 February 2014. Retrieved 17 March 2017. 
  16. ^ "Walsall announce new shirt sponsor as 2014/15 kits are unveiled". Express and Star. 3 June 2014. Retrieved 17 March 2017. 

External links

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