HomeServe acquires SFG for £24 million  

HomeServe, a West Midlands-based insurance company, has acquired France-based rival Société Française de Garantie from April Group Dommages Particuliers for up to £24 million.


HomeServe, a West Midlands-based insurance company, has acquired France-based rival Société Française de Garantie from April Group Dommages Particuliers for up to £24 million.

HomeServe, a West Midlands-based insurance company, has acquired France-based rival Société Française de Garantie from April Group Dommages Particuliers for up to £24 million.

Aix-En-Provence-based SFG specialises in providing extended warranties for electrical appliances, and employs 55 staff. SFG reported pre-tax profits of some £3.3 million in 2008.

Richard Harpin, chief executive of HomeServe, comments: “This acquisition represents a very significant step forward in our plans to extend our successful UK warranty business to other European markets.”

In the year ended 31 March 2009, HomeServe reported a decrease in revenues of seven per cent to £517.4 million, and pre-tax profits up 13 per cent to £96.1 million.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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