Pimlico Plumbers Limited

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Pimlico Plumbers Limited - overview

Established

1979

Location

London, England, UK

Primary Industry

Logistics & Distribution

About

Pimlico Plumbers Limited is a leading provider of property maintenance services in London, specializing in plumbing, heating, electrical, drainage, carpentry, and roofing solutions for both residential and commercial clients. Founded in 1979, Pimlico Plumbers Limited operates primarily in London, UK. The company specializes in a comprehensive suite of property maintenance services. Charlie Mullins founded the company, and it has steadily grown to become a well-known name in the industry.


In September 2021, Pimlico Plumbers was acquired by Neighborly Company, a move aimed at expanding their business globally. Pimlico Plumbers specializes in a comprehensive suite of property maintenance solutions, focusing on plumbing, heating, electrical, drainage, carpentry, and roofing services. The company addresses a wide range of property issues for residential and commercial clients, including boiler installations, plumbing repairs, electrical diagnostics, and bespoke carpentry. With a strong reputation for quality workmanship and customer service, Pimlico serves clients across Greater London, including boroughs such as Barnet, Greenwich, and Lambeth.


Their services are tailored to resolve urgent problems and offer preventive maintenance, ensuring the longevity and efficiency of property systems. In 2023, Pimlico Plumbers generated revenue of USD 60. 59 mn with EBITDA amounting to USD 1. 98 mn.


The company operates a direct-to-consumer model, charging service fees for maintenance and installation tasks, fostering trust through transparent pricing and upfront estimates for services rendered. Following its acquisition by Neighborly Company in September 2021, Pimlico Plumbers plans to leverage this partnership to enhance its global presence. While specifics on new product launches were not disclosed, the acquisition aims to support initiatives for expansion into new markets, allowing Pimlico to explore opportunities beyond their current geographic footprint.


Current Investors

Neighborly Company

Primary Industry

Logistics & Distribution

Sub Industries

Electronic Components & Semiconductor Wholesalers

Website

www.pimlicoplumbers.com

Company Stage

Add-on

Total Amount Raised

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Pimlico Plumbers Limited - timeline of key events

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Pimlico Plumbers Limited - financials

Fiscal Year EndedMay 31, 2012May 31, 2013May 31, 2014May 31, 2015May 31, 2016May 31, 2017May 31, 2018May 31, 2019May 31, 2020May 31, 2021Dec 31, 2021Dec 31, 2022Dec 31, 2023Dec 31, 2024
Revenue (USD)17,198,28018,117,23920,238,11025,550,06829,138,67334,337,86643,382,28344,845,74543,279,83349,170,60029,310,748---
% Revenue Growth (YoY)-5.3%11.7%26.2%14.0%17.8%26.3%3.4%(3.5%)13.6%----
EBITDA (USD)1,350,2601,860,3342,130,0953,596,9114,619,9935,177,9094,732,4735,267,9416,211,0517,765,4403,622,130---
Operating Income (USD)1,056,6781,615,4461,908,3733,333,8754,265,7634,755,7264,232,3334,740,5285,007,0716,366,2762,902,841---
Operating Margin6.1%8.9%9.4%13.0%14.6%13.8%9.8%10.6%11.6%12.9%9.9%---
% EBITDA Margin7.9%10.3%10.5%14.1%15.9%15.1%10.9%11.7%14.4%15.8%12.4%---
NET Income (USD)747,4551,193,5451,492,3042,650,2173,439,3333,799,3243,396,0793,861,2573,858,2674,901,3282,007,703---
% Net Margin4.3%6.6%7.4%10.4%11.8%11.1%7.8%8.6%8.9%10.0%6.8%---

Pimlico Plumbers Limited - deals

Deals TypeDeal StatusTarget (s)Deal DateInvestor(s)Seller(s)Deal size (Mn)Enterprise value (Mn)Post-money valuation (Mn)EBITDA multiple (x)Revenue multiple (x)Lead partner (s)
Add-onCompletedPimlico Plumbers Limited-

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Pimlico Plumbers Limited - employee data

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