FFW advises on £57.6 million sale of Dyno-Rod
20 October 2004
City law firm Field Fisher Waterhouse (FFW) advised the majority
owners of Dyno-Rod, the UK’s leading on-demand drain maintenance
specialist, on the sale of the Dyno group to Centrica plc, owner of
British Gas for £57.6 million.
The Dyno-Rod deal follows hot on the heels of another
high-profile corporate transaction in which FFW advised on the £60
million sale of mutually-owned Londis to Musgrave.
Dyno-Rod will add to British Gas' portfolio of home services and
will help to support customer retention and drive cross-selling
opportunities with new customers. The Dyno-Rod group
currently has 89 drains franchises covering the UK and Ireland plus
an expanding network of 13 plumbing franchises. It also has 60
locks franchises, the UK's largest mobile emergency locksmith
service, which has scope for further geographical franchise
expansion nationwide.
Corporate partner Tim Davies, assisted by John McLaughlin and
Martin Griffiths, advised the majority shareholders.
British Gas were advised in-house by Nick Henn and by Eversheds,
Birmingham.
For further press information, please contact:
Ben Girdlestone, Communications Manager, on +44 (0)20
7861 4968
Louise Eckersley, PR Executive, on +44 (0)20 7861 4120