What Happened
The offer for HomeServe plc was announced in May 2022 at 1,200 pence per share in cash, valuing the company at about £4.08 billion. Shareholders approved the scheme in July 2022, and the acquisition completed on January 4, 2023. The buyer was a consortium of funds advised or managed by Brookfield affiliates and institutional partners, acting through a company called Hestia Bidco. HomeServe's shares were delisted from the London Stock Exchange.
Brookfield Infrastructure's filings describe an effective interest of about 26% in HomeServe's North American business and 25% in its European business, with a voting agreement that gives it control for accounting purposes. In other words, the owner is a group of investors led by Brookfield, not a single company.
What HomeServe Sells in the US
HomeServe sells plans for the parts of a home that standard home warranties and homeowners insurance often exclude, such as exterior water and sewer lines, usually through partnerships with local utilities and municipalities. Our data lists its parent as Brookfield Asset Management. Because it is a different product category, we do not score it against whole-home warranties on price, service fee or HVAC cap. See the HomeServe review.
What It Means for Customers
- Existing plans. We found no announcement of changes to existing US customer contracts. Check your renewal notice for any change in terms or price.
- Ownership says little about claims. A change of owner is not evidence of better or worse claim handling. Compare the plan's covered items, limits and complaint record before you buy or renew.
- It complements a home warranty. Exterior line plans cover what a whole-home warranty usually does not. Our guide to home warranty alternatives explains where each fits.