Sumary of Pimlico Plumbers tycoon Charlie Mullins to sell chunk of his empire :
- Plumbing tycoon Charlie Mullins is looking to sell a large chunk of his empire for millions.
- The London-born businessman wants to retain some of his 90 per cent stake in Pimlico Plumbers, the Mail understands.
- A deal could value Pimlico at up to £100million, and help fund expansion, with Mullins keen to push into Dubai.
- Cashing in: Pimlico Plumbers founder Charlie Mullins (pictured) reportedly has a 90% stake in the firm.
- His oldest son Scott, who is chief executive, owns the restSuitors are believed to include Neigborly, a US home services company owned by private equity firm KKR, with several other private equity firms thought to be in the running.
- Mullins, 68, founded Pimlico Plumbers in 1978. The son of a factory worker father and a cleaner mother, he left school with no qualifications, and claims to have been up to his elbows in other people’s lavatories since the age of 12.His plumbers work for an hourly rate of £120 during the day, but are known for their professionalism.