HomeServe plc

Deal Summary

Catalyst Corporate Finance advised HomeServe plc on the sale of its Retail Warranties Group to a management buy-out.

HomeServe plc is the international home emergency insurance cover and domestic repair group with a market capitalisation of £1.7 billion and 6,000 employees.

HomeServe’s Retail Warranties Group, now known as Castelan, is a leading supplier of furniture and electrical warranties to many of the UK’s leading manufacturers and retailers. Castelan provides a unique end-to-end warranty service, managing claims on behalf of its customers and servicing repairs through its directly employed network of technicians. Martin Napper, the Managing Director of Castelan, led the management buy-out.

What difference did we make?

HomeServe plc mandated Catalyst to strategically review its Retail Warranties Group and assess the most deliverable exit routes for the business.

Catalyst marketed the business to potential trade buyers and management in a parallel process and ultimately the management buy-out option was considered to be the most favourable to HomeServe.

Catalyst led the negotiations on the sale and supported HomeServe on the complex HR, IT and underwriting discussions to extract the business from the plc which included a transitional services agreement.