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Corporation
homeserve.com

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Investments

2

Partners & Customers

10

About HomeServe

HomeServe provides home emergency, repair, and heating installation services to household customers. The Company offers home assistance in respect of plumbing, heating, water, gas, and electrical-related emergencies and repairs. The company provides its services through directly employed, franchised, and subcontract networks of engineers.

HomeServe Headquarter Location

Cable Drive

Walsall, WS2 7BN,

United Kingdom

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Latest HomeServe News

Spinnaker Acquisitions Plc to float on London Stock Exchange

Jan 17, 2022

Posted on LONDON, UK: Spinnaker Acquisitions Plc is in the advanced stages of the application process with the Financial Conduct Authority and the London Stock Exchange (“LSE”) for the admission of the company’s ordinary shares to the standard segment of the Official List and to trading on the LSE’s Main Market under the ticker “ONDO”. As per the company’s announcement of 13 December 2021, Spinnaker Acquisitions Plc has conditionally agreed to acquire the entire issued share capital of HomeServe Labs Ltd (“Labs”), a wholly owned subsidiary of FTSE250 quoted public company HomeServe Plc, by way of a reverse takeover conditional, inter alia on relisting and successful completion of fundraising activities to be undertaken by way of a placing and direct subscriptions by new and existing investor. If the Proposed Transaction proceeds to completion, it is proposed to change the name of the Company to Ondo InsurTech Plc and the name of Labs, which will become a subsidiary of the Company, to LeakBot Ltd. Whilst the terms of the Proposed Transaction have been agreed, the acquisition remains subject to the satisfaction of certain conditions. Accordingly, there is no certainty that the Proposed Transaction will proceed. Should the Proposed Transaction not proceed, then the Company would need to apply for the suspension of its listing of ordinary shares to be lifted and for trading to be restored. Labs Highlights –     Labs is a B2B Insurtech business and a wholly owned subsidiary of HomeServe PLC. Craig Foster originally set up an innovation team for HomeServe PLC group during 2014, designed to incubate a range of new ideas for the group. During 2014- 2018, Labs developed and patented the underlying technologies for a propriety leak detection system. The leak detection system is called LeakBot. –     The LeakBot system is a patented water security system that prevents small leaks from turning into insurance claims. This is achieved through the installation of patented technology (the LeakBot system) at insured households by end insured consumers and the provision of claims mitigation services such as find and fix plumbing repairs and data to assess risk. Insurers in the UK, Denmark, Sweden, Ireland and the US pay Labs for the LeakBot system and derive the benefit of claims mitigation through the prevention of leaks at insured households. –     Water damage is one of the number one claims on home insurance and accounts for approximately 30% of claims paid in the UK and USA, two of Labs’ target markets. This accounts for over $17 billion of claims annually across the USA and UK. As at today, there are 35,000 registered LeakBot devices (with19,500 shipping in the last 12 months) supplied to partners. The Company is in discussions with eleven potential partners in the UK and US to enter into further partner contracts. The LeakBot device has a 4.8 / 5 Trustpilot review which the Directors believe validates the offering for end-consumers. Craig Foster, CEO of Labs said: “LeakBot is the first IOT leak prevention system that is in roll-out with multiple carriers and in operation in multiple countries. Now we will be one of the first InsurTechs to IPO in the UK. This is a huge credit to the great team that have worked so hard to figure this out over the last few years, and to our innovative insurance partners who want to break the status quo and find a better solution for their customers and for the environment. Together, we will reduce claims, reduce waste, save water and lower the costs of insurance. We are very excited about what lies ahead.” Andy Morrison, Chairman of SPAQ, added: “Since announcing the exchange of the Sale and Purchase Agreement on 13 December 2021, we have continued to make excellent progress towards execution of the transaction. I look forward to soon handing over the reins into the capable hands of Craig and the Labs team, while continuing as a committed director and shareholder of the enlarged company.”

HomeServe Investments

2 Investments

HomeServe has made 2 investments. Their latest investment was in Centriq as part of their Series A on January 1, 2019.

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HomeServe Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/24/2019

Series A

Centriq

$5M

Yes

2

5/27/2016

Seed

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$99M

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10

Date

1/24/2019

5/27/2016

Round

Series A

Seed

Company

Centriq

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Amount

$5M

$99M

New?

Yes

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Co-Investors

Sources

2

10

HomeServe Acquisitions

18 Acquisitions

HomeServe acquired 18 companies. Their latest acquisition was United Plumbing on January 13, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/13/2022

$99M

Acquired

1

10/27/2021

$99M

Acquired

5

10/27/2021

$99M

Acquired Unit

2

10/14/2021

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$99M

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10

8/6/2021

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$99M

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10

Date

1/13/2022

10/27/2021

10/27/2021

10/14/2021

8/6/2021

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired

Acquired

Acquired Unit

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Sources

1

5

2

10

10

HomeServe Partners & Customers

10 Partners and customers

HomeServe has 10 strategic partners and customers. HomeServe recently partnered with Sabio Group on September 9, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

9/28/2021

Partner

Sabio Group

United Kingdom

1

5/18/2020

Partner

L Marks

United Kingdom

HomeServe partners with L Marks to find startups to create "Uber for tradespeople" - L Marks

On the newly established partnership with HomeServe , L Marks CEO , Daniel Saunders commented : `` This is an emerging market and one we are very excited to be exploring further .

1

2/20/2019

Partner

Mitsubishi Corporation

Japan

UK domestic repairs firm HomeServe links with Mitsubishi to enter Japan - Intralink

It 's wonderful to see British domestic repairs group HomeServe plc formalise a joint venture with Mitsubishi Corporation to enter the Japanese market , following an extensive study by our Tokyo team into if and how it should set up in the country .

1

6/13/2018

Partner

CenterPoint Energy

United States

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10

4/27/2017

Partner

Lincoln Technical Institute

United States

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10

Date

9/28/2021

5/18/2020

2/20/2019

6/13/2018

4/27/2017

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Sabio Group

L Marks

Mitsubishi Corporation

CenterPoint Energy

Lincoln Technical Institute

Country

United Kingdom

United Kingdom

Japan

United States

United States

News Snippet

HomeServe partners with L Marks to find startups to create "Uber for tradespeople" - L Marks

On the newly established partnership with HomeServe , L Marks CEO , Daniel Saunders commented : `` This is an emerging market and one we are very excited to be exploring further .

UK domestic repairs firm HomeServe links with Mitsubishi to enter Japan - Intralink

It 's wonderful to see British domestic repairs group HomeServe plc formalise a joint venture with Mitsubishi Corporation to enter the Japanese market , following an extensive study by our Tokyo team into if and how it should set up in the country .

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Sources

1

1

1

10

10

HomeServe Team

11 Team Members

HomeServe has 11 team members, including current Chief Executive Officer, John Kitzie.

Name

Work History

Title

Status

John Kitzie

Chief Executive Officer

Current

Martin Bennett

Arthur Andersen

Chief Executive Officer, Chief Operating Officer

Former

Giles Desforges

Chief Executive Officer

Former

Sébastien DUVANEL

Chief Executive Officer, President, Chief Financial Officer

Former

Jon florsheim

Chief Executive Officer

Former

Name

John Kitzie

Martin Bennett

Giles Desforges

Sébastien DUVANEL

Jon florsheim

Work History

Arthur Andersen

Title

Chief Executive Officer

Chief Executive Officer, Chief Operating Officer

Chief Executive Officer

Chief Executive Officer, President, Chief Financial Officer

Chief Executive Officer

Status

Current

Former

Former

Former

Former

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