Founder Charlie Mullins has stepped down from the business at the age of 68 but his son Scott Mullins, 49, remains chief executive.
Neighborly, owned by private equity giant KKR, describes itself as 聽鈥渢he world鈥檚 largest franchisor of home service brands鈥�. The acquisition of Pimlico Plumbers expands Neighborly to 29 brands in nine countries.
Charlier Mullins founded Pimlico Plumbers in 1979 with a second-hand van and a bag of tools. Last year the company made a pre-tax profit of 拢5m on turnover of 拢43m.
Scott Mullins said: 鈥淣eighborly is well-respected across the globe as the driving force behind so many reputable brands in the home service and maintenance industry. Even after Pimlico鈥檚 40-plus years of independent business success, Neighborly鈥檚 proven track record for growth and its commitment to its code of values assures that we鈥檝e found a like-minded company that can help us grow. This marks a major international milestone for both organizations, and I am excited about the continued innovation and prosperity that is sure to follow for us all.鈥�
He added: 鈥淚 would like to pay tribute to my father Charlie, for creating the business out of nothing.鈥�
Mike Bidwell, president and CEO of Neighborly, said: 鈥淲e are thrilled to be growing our global footprint with the addition of Pimlico as the next subsidiary brand to join our global family of home service professionals. Pimlico鈥檚 wide array of trade services as well as its exceptional customer care perfectly align with Neighborly鈥檚 purpose, which is to build an extensive service community known for providing excellent experiences. We are excited for the growth to come for both Pimlico and Neighborly as a result of this acquisition.鈥�
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