The deal will see Myhome pay an initial cash payment of £200,000 and then further payments up to £5,450,000 over three years, subject to performance criteria. Founded by Angela and Daniel Morris in 2005, DSH operates a 24-hour emergency and a regular maintenance plumbing and drainage service. In addition to this it plans to launch an electrical franchise ElecXpress in the next 18 months. As well as operating PlumbXpress, Myhome operates the residential service brands Myhome Clean, Nicenstripy, Surface Doctor, Ovenclean, Autosheen, Clean Team, Stainbusters and Increase-Decrease.
'Becoming part of the Myhome group can only help to build on the foundations of the franchise network that we have put in place,' says Angela Morris, co-founder of DSH. 'Myhome's experience in franchise recruitment, franchise systems and, in particular, its attitude towards customer service, attracted us to working more closely together.'
Russell O'Connell, Executive Chairman of Myhome International plc, adds: 'I am delighted to welcome Angie and Daniel to the Myhome Group, bringing with them the business of PlumbXpress. Their vision matched ours - providing a premium national service in an industry that is fragmented and not renowned for high levels of customer service. We are looking forward to helping them accelerate their franchise recruitment programme and working with them to launch ElecXpress.'
Published: 4 October 2007
Back to news