21st May 2007 09:30
Homeserve Plc21 May 2007 Homeserve Acquires Anglia Insurance Services Homeserve plc today announces the further expansion of its repair networkactivities with the acquisition of Anglia (NW) Limited ("Anglia"). Anglia is one of the UK's leading home insurance repairers providing propertyrepair services to many of the UK's leading household insurers. The companyoperates from two sites in North Wales and Shrewsbury and has 204 employees,including 168 directly employed trade operatives. The total consideration payable is £37m, of which £19m is conditional on theachievement of future earnings. Anglia's gross assets at 31st March 2007 were£5.9m. The acquisition of Anglia further enhances Homeserve's already market-leadingproperty repair proposition, represented by the Improveline and HomeserveProperty Repairs businesses, whose integration was announced earlier today. Thetransaction will deepen our existing relationships with major insurers andprovide the capacity further to increase Homeserve's directly employed presencein the property repairs business. Ian Carlisle, Chief Executive of Homeserve Emergency Services commented: 'Homeserve's acquisition of Anglia represents a further significant step in thedevelopment of our Emergency Repair operations. The acquisition extends ourrelationships with insurers in the property services market and, in line withour strategy, provides a directly employed network, which will further increasethe efficiency of our enlarged property repair business.' EnquiriesHomeserve plcBrian Whitty, Executive Chairman Tel: 01922 427900Richard Harpin, Chief ExecutiveJonathan Simpson-Dent, Chief Financial Officer TulchanAndrew Honnor Tel: 0207 353 4200Stephen Malthouse This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HSV.L