Homeserve, which sponsors Walsall Football Club, above, is to buy Dominion Products and Services, based in Virginia, for £108m BARRINGTON COOMBS/EMPICS SPORTHomeserve, the emergency repairs service that has been expanding its UK and international footprint in all directions like water gushing from a burst pipe, is raising £125 million in a share placing to fund the acquisition of a US-based company. The £108.3 million purchase of Dominion Products and Services, based in Richmond, Virginia, will bring with it 500,000 new customers and is part of an ambitious plan by the company’s founder and chief executive, Richard Harpin, to take the business he founded in Walsall in 1993 global. The company, which also has a presence in France, Spain, Italy and Latin America, now partners with 400 US utility companies. “There are 30 more businesses to buy in the US in due course. We didn’t need to…

Source: The Times October 20, 2017 05:26 UTC