Homeserve offloads emergency services unit

24th Sep 2009 07:30

Home maintenance specialist Homeserve said it has sold its emergency services division for up to £11m as it focuses on its higher margin, higher growth membership businesses. Homeserve said it has sold the business, excluding the HomeServe Property Repairs businesses, to a newly incorporated company backed by Lloyds TSB Development Capital. Commenting on the sale, chief executive Richard Harpin said, "Following the successful reorganisation of our UK business and the decision to exit from the Emergency Services activities, today's announcement is a major step forward in the execution of our strategy. HomeServe is now focused on building a worldwide membership business from which we are well placed to deliver growth this financial year and into the future." Homeserve said it is exploring a range of options for the HomeServe Property Repairs businesses which are experiencing challenging market conditions.