Canada’s Brookfield Asset Management said on Thursday one of its private infrastructure funds was in the early stages of considering a possible offer for home repair services provider HomeServe Plc.
The home repair services industry was a big winner of pandemic lockdowns as home-bound customers spent more time and money on renovations, boosting the sector’s sales.
In the six months to Sept. 30, UK-based HomeServe’s adjusted earnings jumped 27% thanks to a strong performance in its North American market.
Brookfield said it would either announce a firm intention to make an offer for the London-listed firm or walk away from it by April 21.
HomeServe said in a separate statement it had not received an approach from Brookfield.
Source: Reuters.com