Houlihan Lokey Advises Pollen Street Capital

Houlihan Lokey is pleased to announce that Pollen Street Capital has agreed to acquire a majority stake in Hometree, a fast-growing home services challenger, alongside Hometree’s simultaneous acquisition of OVO Energy’s Home Services division, including the CORGI HomePlan and CORGI HomeHeat businesses.

Pollen Street Capital is a private equity and alternative asset manager. By acquiring a majority stake in the enlarged group, the firm seeks to provide further growth capital and expertise.

Founded in 2015, Hometree has become the fastest-growing player in the U.K. home services market by focusing on transparency, a best-in-class customer experience, and continuous product innovation. It is also at the forefront of residential electrification, building one of the U.K.’s largest financing platforms for home energy solutions, having raised £300 million from Barclays and CPPIB to fund tens of thousands of solar, battery, and heat pump installations on long-term subscription models, with integrated repair and maintenance cover included.

OVO Home Services was developed from the 2017 acquisition of the CORGI HomePlan business. With more than 60 years of brand heritage, the CORGI brand is widely trusted by households across the U.K. and has a longstanding association with gas safety and quality.

The transaction will create the U.K.’s third-largest home cover provider, serving nearly 500,000 customers. Backed by Pollen Street, the group will expand across Europe, investing in technology to deliver integrated subscription, financing, and installation solutions for electrified homes.

Houlihan Lokey served as the exclusive buyside and financing advisor to Pollen Street Capital.

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