Hometree acquires renewable energy installer IMS Heat Pumps

IMS Heat Pumps' Emma Bohan

Hometree, the residential energy services company, has acquired IMS Heat Pumps to support home decarbonisation.

With an initial focus on home emergency breakdown and insurance, Hometree has since expanded into renewable installations and financing – it now has over 100,000 customers using its emergency heating, plumbing, electrical repairs and maintenance plans, which are delivered by its nationwide network of over 5,000 multi-trade engineers and installers.

Through its Hometree Finance division, it has a portfolio of residential heat, solar and battery leases – it finances and owns the assets for homeowners, so they can benefit from the lower energy bills, without the upfront cost of installation.

Hometree Founder & CEO Simon Phelan, said:

I’m incredibly excited to be partnering with Emma Bohan and the IMS team and look forward to helping them scale the company significantly. If the UK is to achieve its net zero ambition, we will need an army of installers right across the country and we’re committed to bringing together these skills, supported by financing and in-life repair and maintenance services, to make Hometree the first choice for homeowners who want to do the right thing by the planet.

Emma Bohan, Managing Director of IMS Heat Pumps, said:

We’ve been installing heat pumps for over 25 years and we’ve watched the renewable home energy industry grow and grow in that time. By partnering with Hometree, we can bring our specialist expertise to many more homeowners and look forward to working closely with the Hometree team to drive uptake of sustainable heating solutions across the country.

Since it was founded, Hometree has raised >£85 million in funding and recently secured its first debt facility from funds and accounts managed by BlackRock to support its acquisition strategy. Hometree is also backed by one of Europe’s largest asset managers in Legal & General Capital, alongside a range of leading specialist energy investors including Energy Impact Partners, Inven Capital and 2150.

Emma Bohan is speaking at InstallerSHOW this month, which runs 25 to 27 June at the NEC: installer-2024-splash.reg.buzz