Brookfield Asset Management Inc. is acquiring HomeServe Plc for £4.1 billion in a strategic move to enhance its portfolio in the home repair market and support sustainability initiatives.

Overview of the Deal

Brookfield Asset Management Inc. is set to acquire HomeServe Plc, a British home repair emergency company, for £4.1 billion (approximately $5 billion). This all-stock transaction, one of the largest takeovers in London this year, offers shareholders £12 per share, representing a 71% premium over HomeServe's stock price of 704 pence as of March 23, when Brookfield's interest became public. The deal is currently awaiting a court order, which is expected to be issued in Q4 of 2022.

Through its subsidiary Hestia Bidco, Brookfield aims to leverage HomeServe's established presence in the EMEA, North America, and Japan markets. HomeServe has demonstrated strong financial performance, having paid over £800 million in dividends since 2004, alongside a clear strategic vision focused on business growth and sustainability. This acquisition aligns with Brookfield's long-term ambitions to expand its foothold in the home repair and improvement sector while contributing to the decarbonisation agenda.

Industry Overview in the UK

The home repair and improvement industry in the UK is characterized by an increasing demand for emergency services, with significant growth during periods of home confinement due to the COVID-19 pandemic. As more consumers seek quick and reliable s