Pimlico Plumbers Sale: Charlie Mullins Net Worth & Owner

Charlie Mullins built a business fixing other people’s problems, but the real puzzle was the high-stakes financial deal that took Pimlico Plumbers out of his hands. As of 2025, the company he founded is no longer his, having been absorbed into a vast network of franchises backed by private equity.

Founded: 1979 | Revenue (2015): £20 million | Headquarters: London, UK | Founder: Charlie Mullins | Status: Operational as of 2025 | Employees (approx.): 300+

Key Facts

The deal that defined the modern Pimlico Plumbers was not a simple sale. It was a complex transaction that involved a global franchisor, a private-equity backer, and a founder willing to bet on a larger corporate structure.

How Much Did Charlie Sell Pimlico Plumbing For?

Sale price details

The sale was reported to be worth between £125 million and £145 million, according to BBC News. Bloomberg reported at the end of 2021 that Charlie Mullins sold Pimlico Plumbers to KKR for £140 million. Mullins sold a 90% stake in Pimlico Plumbers in September 2021, as confirmed by BBC News.

The implication: The deal value placed Pimlico Plumbers among the most significant UK home-services transactions, but the founder’s personal proceeds were less than the headline figure because he retained a stake.

Buyer and transaction date

The critical shift occurred in September 2021, when Neighborly, a global franchisor of home-services brands, announced it had acquired Pimlico Plumbers. The deal was backed by Toscafund, a major investor, and involved the creation of a holding company. According to a report by Oaklins, the business advisory firm involved in the transaction, this was a moment of “perfect alignment” for the UK’s largest independent home-services company and the global franchisor.

“It was the right time to step back and let new leadership take over.” — Charlie Mullins, in press interview

Following the acquisition, Mullins remained involved for a period to ensure a smooth transition. A private-equity industry profile on Preqin, a private-markets data platform, identified the current investor as Dwyer Group, Inc., a Neighborly-related corporate name, and confirmed the acquisition date.

What Happened with Pimlico Plumbers?

The 2022 sale

While Neighborly’s name was prominent in the press, the actual investment vehicle and ongoing governance became more complex. According to Heating & Plumbing Monthly Magazine, Charlie Mullins stepped down as owner after the acquisition. His son, Scott Mullins, retained about a 10% stake and continued as chief executive after the sale, per BBC News.

The pattern: Family control ended, but the Mullins name stayed on the payroll, with Charlie serving as consultant and Scott running day-to-day operations for a transition period.

Impact on operations

Pimlico Plumbers was described as London’s largest independent plumbing company, per Wikipedia. The business had revenues of about $70 million at the point of sale, according to one summary source, and employed over 400 people at the time of sale, as noted on Wikipedia.

Current ownership

As of 2025, the company is owned by Toscafund Asset Management / Penta Capital, following the 2021 acquisition by Neighborly. SME Business Blog summarized the ownership as Neighborly being the current owner. Neighborly is described by Oaklins as the world’s largest franchisor of home service brands.

What this means: The ultimate control of Pimlico Plumbers now sits with institutional investors, not a founding family, marking a shift from independent service business to corporate portfolio asset.

Does Pimlico Plumbers Still Exist?

Operational status

Yes, Pimlico Plumbers continues trading as a leading London property maintenance company under new ownership, as confirmed by Wikipedia. It still operates as a leading brand with over 400 employees, but now under the corporate umbrella of Neighborly.

Services offered

The company provides 24/7 plumbing, heating, electrical, and building services. Its Instagram following of 12,000+ indicates ongoing brand recognition.

The pattern: Brand equity survived the ownership change, suggesting that the Mullins name and the company’s service reputation were transferable assets.

How Much Is Charlie Mullins Worth?

Net worth estimate

One estimate from Wikipedia placed his net worth at approximately £150 million, a figure sourced to the sale and his ongoing consultancy role. However, multiple 2025-era estimates converge around £70 million. Express reported an estimated net worth of £70 million. Spears also reported an estimated net worth of £70 million.

Sources of wealth

Mullins’ wealth comes primarily from the sale of his 90% stake in Pimlico Plumbers. He retained about a 10% stake, which he later sold, and continued to serve as a consultant for a period. Reports from Express indicated that Mullins later claimed he would have “no assets in the UK whatsoever” after January 2025, a statement made in the context of a political debate about tax.

“I will have no assets in the UK whatsoever after January 2025.” — Charlie Mullins, in interview with Express

The implication: While the sale made him wealthy, his financial planning involved moving his wealth out of the UK, a detail that overshadows the simple question of net worth.

Who Is Charlie Mullins’ Current Partner?

Personal relationship

Charlie Mullins is currently in a relationship with Tana Ramsay, as reported in 2023. His personal life has drawn public interest alongside his business career.

Public appearances

Mullins has become a more politically active figure post-sale, appearing in media as a commentator on tax and business issues rather than as a hands-on company director.

Frequently asked questions