2nd Aug 2007 07:00
Homeserve Plc02 August 2007 Homeserve Acquires Reparalia S.A. Homeserve plc today announces the expansion of its international operations withthe acquisition by Homeserve Iberica S.L.U. of Reparalia S.A. ("Reparalia") fromFCC Construccion S.A., part of FCC the leading diversified Spanish constructiongroup. Reparalia is one of Spain's leading providers of property repair services andemergency claims handling for some of Spain's fastest growing home insurers.The company has 215 employees across six locations in Spain locally managing anetwork of 3,400 contractors across all household repair trades. Approximatelyhalf the employees are located at its headquarters in Madrid. For the year ended 31st December 2005 and 2006, the audited accounts forReparalia reported turnover of €23.2m and €32.9m respectively. Reparalia's grossassets at 31 December 2006 were €9.1m. The acquisition of Reparalia continues the development of Homeserve's UKbusiness model of providing services to insurers and utility affinity partnersin the rapidly growing Spanish market. Testing is continuing with Endesa anddiscussions with a number of other utilities are progressing well. Brian Whitty, Chairman commented: 'We are delighted to announce the acquisition of Reparalia which has had anexcellent growth record over the last few years, developing key insurancerelationships based on a reputation for high-quality service delivery. I amconfident Reparalia will give us the platform to build our own repair and policybusiness on a similar model to our utility branded services in the UK.' Enquiries: Homeserve plcBrian Whitty, Executive Chairman Tel: 01922 427900Jonathan Simpson-Dent, CFO TulchanAndrew Honnor Tel: 0207 353 4200Stephen Malthouse Notes to Editors: The Spanish market represents an excellent opportunity for Homeserve to developits proven UK model. The Spanish home emergency insurance market is rapidly expanding, with 12%growth in non-life premiums since 2000, which is among the highest in Europe. Spain's recent GDP growth is the second-highest in Europe; it has a risingpopulation and declining unemployment levels. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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