Charlie Mullins: ready for flotation.

Pimlico Plumbers considers a flotation

Published:  08 November, 2010

LONDON: Charlie Mullins, head of Pimlico Plumbers, is said to be eyeing a £50m flotation.

The west London company is in talks with brokers Dawn Traders over a potential listing in Q1 of 2011.

Mr Mullins, who founded the firm in 1979 and pays himself £1m a year, plans to hold a 50% stake in his business.

"The proceeds from a listing would allow the business to expand outside the M25 and nationwide," he said. "It would also give our customers a chance to buy shares."

Pimlico Plumbers accounts show profits of £343 168 for the 12 months to the end of May 2009. Sales increased to £12.6m from £11.9m the previous year.

Sign Up

For the Builders' Merchants News enewsletter.

In the spotlight


Builders Merchants Vacancies – UK Wide

At Arco, we are an industry specific recruitment consultancy, providing sales and managerial staff Nationwide to Merchants, Distributors and Manufacturers of Building Materials within the Construction Sales Sector. Priding ourselves on our unparalleled customer service and hard work, we offer a fresh, innovative and personal approach to recruitment specifically designed to meet our clients’ needs and candidates’ skills.

Guest Blog by Simon Damp

Is DIY a lost art?

As time goes by, the art of do-it-yourself when it comes to activities around the home and garden is fast becoming more and more of a lost art.