Pacifica sells Homes Services division, PHS, to Viessmann

January 2022

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Leading growth investor Synova is pleased to announce that portfolio company Pacifica has successfully sold its Home Services division, PHS, to Viessmann, a global leader in heating, industrial and refrigeration systems. PHS is one of the UK’s largest service providers into the home heating, insulation and renewable energy markets, which are showing strong growth as demand for green energy solutions increases in the UK and worldwide.

Since partnering with Pacifica, Synova has supported the business with its regional expansion strategy, entrance into new markets with bolt-on acquisitions such as Oakes Energy and strengthening of the senior team, all enabling growth in PHS revenues by 200% to £45m. PHS will receive long-term backing from new owner, Viessmann, as it continues to support the UK’s carbon reduction ambitions.

Alex Bowden, Partner at Synova, said:

“We wish the team at PHS the very best for the future; it has been fantastic to see PHS flourish since we partnered with Pacifica in 2019 and believe Viessmann are an excellent partner to take the company on from here. Synova continues to support the Pacifica as it focuses on continued growth in the appliance repair and UK warranty markets.”