NorthEdge sells Help-Link to HomeServe for up to £22.7m

Help-Link has faced significant external challenges in recent years after the "collapse of the eco market for subsidised boiler installations", according to a statement issued by the vendor. The GP said this led to the company posting £15.3m in losses before tax in the year ending March 2016.

In response to the challenges, the GP appointed a new CEO and chairperson in 2015, as well as recruiting a number of new senior management team members. It has since secured new national contracts – most notably agreeing a deal with EDF Energy – invested in its customer services team and amended its service offering.

NorthEdge said in the statement that the business is now on course to return to profitability in the financial year ending March 2018.

The GP was invested in Help-Link via its first fund, which closed on its £225m hard-cap in April 2013.

Previous funding
NorthEdge acquired Help-Link in April 2013. According to unquote" data, the GP invested around £13m to support the deal.

Company
Headquartered in Leeds and founded in 1998, Help-Link installs and maintains boilers and central heating accessories such as thermostats, radiators and filters.

People
NorthEdge Capital – Dan Wright (partner); James Marshall (investment manager).
HelpLink – Richard Harrison (CEO).

Advisers
Equity – GCA Altium (corporate finance); Walker Morris (legal); KPMG (financial due diligence); EY (tax).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• NorthEdge Capital
• Trade sale