Acquisition aimed to lead London plumbing market

Cleaning and maintenance company Fantastic Services has acquired London-based My Plumber Ltd in a  deal that the new owners say will rival Pimlico Plumbers, London’s largest independent plumbing company.

Fantastic Services co-founder Rune Sovndahl says he aims to see plumbing sales worth £40 million a year, though the financial details of the purchase have not been disclosed.

All existing My Plumber staff – including Gas Safe accredited technicians, electricians and handymen, plus an administration and estimating team – will be retained.

My Plumber, established in 2005, has expertise in general plumbing repairs and installations, as well as heating and gas services including the installation of boilers and central heating systems. It also operates electrical services, under the My Electrician name, as well as a handyman operation called My Handyman.

Rune Sovndahl says: “Demand for good, reliable plumbers has never been higher.

“We believe we can eclipse the other main players in the London plumbing market such as Pimlico Plumbers – one of our main market rivals. We are intent on building a customer-focused position in the plumbing and heating services market that will seriously challenge the established players such as British Gas and Dyno.”

According to figures from IBISWorld, the UK plumbing and heating sector has a market worth of  £17.2billion, with a 4.3% annual growth over the past five years.

Formed in 2009, Fantastic Services has in excess of 300 franchising partners, providing more than 25 different professional services throughout the UK. By the end of the year, it expects its customer base over the year to have risen by nearly 200,000 as new ventures in 10 areas, including Manchester, Chester, Birmingham, Sheffield, and the South West, become established.

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