There’s a particular kind of cognitive dissonance that comes from hearing a multimillionaire call his own business sale a mistake — especially when that sale was reportedly worth up to £145 million. Charlie Mullins, the founder of London’s iconic Pimlico Plumbers, made exactly that confession, and it opens a much broader story about ownership, legal battles, and what the company looks like after him.
Founded: 1979 ·
Headquarters: London, UK ·
2015 revenue: £20m ·
Availability: 24/7, 365 days a year ·
Trustpilot rating: Excellent
Quick snapshot
- Founded in 1979, registered as Pimlico Plumbers Limited under company number 02012715, with 2015 revenue of £20m (BBC News)
- Sold to US home services group Neighborly, owned by private equity firm KKR, in September 2021 (PE Insights)
- Exact sale price — not officially disclosed; BBC reported the deal was expected to value the company at between £125m and £145m (BBC News) (Evening Standard)
- Charlie Mullins’ current net worth — not confirmed in an official filing; his personal sale proceeds were estimated at around £110m (PE Insights) (Evening Standard)
- Charlie Mullins’ current residence — not confirmed; Spain has been reported as his base (Evening Standard)
- Name of Charlie Mullins’ first wife — not confirmed in available sources (Wikipedia)
- 1979 — Pimlico Plumbers established (BBC News)
- September 2021 — Sale to Neighborly / KKR (PE Insights)
- January 2023 — Mullins described sale as ‘biggest mistake’ (Evening Standard)
- Pimlico Plumbers operates under new US ownership with Scott Mullins as CEO (BBC News)
- Founder Charlie Mullins explores new ventures in Spain (Evening Standard)
The pattern across these cards: what’s confirmed is the company’s scale; what’s unresolved is the founder’s post-sale life.
The key numbers behind Pimlico Plumbers, at a glance.
| Label | Value |
|---|---|
| Founded | 1979 |
| Headquarters | London, United Kingdom |
| Company number | 02012715 |
| SIC code | 43220 – Plumbing, heat and air-conditioning installation |
| 2015 revenue | £20m |
| Availability | 24/7, 365 days a year |
The sale to KKR-backed Neighborly didn’t just change the letterhead — it severed the direct link between the founder’s personal brand and the company’s day-to-day operations. For customers, that means the “Charlie Mullins” guarantee no longer applies in the same way.
Does Charlie Mullins still own Pimlico Plumbers?
No. Charlie Mullins sold his 90% stake in Pimlico Plumbers to the US home services company Neighborly in September 2021, according to BBC News. Neighborly is owned by the private equity firm KKR. Scott Mullins, Charlie’s son, retained approximately a 10% stake and continues as chief executive.
Who owns Pimlico Plumbers?
The current owner is Neighborly, a US-based franchise group that operates service brands like Mr. Rooter and Molly Maid. Neighborly itself is a portfolio company of KKR, confirming that Pimlico Plumbers is now privately held by a private equity-backed entity with no direct founder involvement.
Who is the CEO of Pimlico Plumbers?
Scott Mullins, the founder’s son, remains chief executive after the sale. He held approximately 10% of the equity at the time of the transaction. Charlie Mullins has no executive role in the company.
What is Charlie Mullins’ connection to Pimlico Plumbers?
Charlie Mullins founded Pimlico Plumbers in 1979 after leaving school at 15 (Yahoo Finance). He built it into London’s largest independent plumbing company, with reported revenue of £20 million in 2015 (BBC News). A judicial PDF from the Courts and Tribunals Judiciary (official UK judicial body) formally identifies him as “the founder and owner” at the time of the worker-status case. He is no longer involved in daily operations.
Charlie Mullins walked away with an estimated £110 million — but lost the platform that made him a household name in London. For founders weighing a PE sale, the equation is never just about the price tag.
The pattern: the founder’s name still carries the brand, but the decisions now sit with KKR’s portfolio company.
How much did Charlie sell Pimlico plumbing for?
The exact sale price was never officially disclosed, but multiple sources point to a deal valuation between £125 million and £145 million. Sharecast reported the sale at up to £145 million; BBC News reported that the sale “was expected to value the company at between £125 million and £145 million.” A separate analysis from PE Insights (private equity industry publication) pegged Mullins’ personal take at around £110 million, based on his 90% stake.
Why did Charlie Mullins call selling Pimlico Plumbers his ‘biggest mistake’?
In January 2023, Mullins told the Evening Standard (London-based daily newspaper) that selling Pimlico Plumbers was the “biggest mistake” of his life. He reiterated that regret in February 2024, telling Yahoo Finance he regretted selling to a US company. The regret appears tied to losing control over the business he built from scratch and the cultural mismatch with corporate ownership.
Mullins’ public regret is rare — most founders who sell to PE never admit buyer’s remorse. His willingness to say it publicly signals that the non-financial costs of exit (autonomy, identity, purpose) can outweigh the cheque.
The implication: the money was real, but the regret suggests the non-financial terms mattered more than the cheque.
How rich is Charlie Mullins?
Charlie Mullins’ net worth is not publicly documented in a verified financial filing, but the sale proceeds provide a strong data point. With an estimated £110 million from the sale of his 90% stake, plus decades of prior earnings from a business that reported £20 million in revenue in 2015, his personal wealth likely exceeds £100 million. No formal net worth statement from a financial institution or regulatory body is available.
What is Pimlico Plumbers’ net worth?
The company itself isn’t a publicly traded entity with a market cap, so “net worth” is better understood as enterprise value. The 2021 sale valued the business between £125 million and £145 million. The 2015 revenue figure of £20 million gives a rough valuation multiple context, though the 2021 price reflects asset growth and market conditions over six additional years.
The implication: £20 million in revenue in 2015 scaled to a £125 million-plus valuation by 2021. That’s a 6x+ revenue multiple — a strong signal that Pimlico Plumbers wasn’t just a plumbing company; it was a premium brand with reliable recurring revenue.
Where is Charlie Mullins living now?
Mullins has been spending significant time in Spain since the sale. The Evening Standard reported in 2023 that he had moved to Marbella, where he has been exploring new business ventures. His exact current residence is not confirmed in any official filing.
How many times has Charlie Mullins been married?
Mullins has been married three times, according to biographical reporting. His current marital status and the names of his spouses are matters of public record through gossip and biographical outlets, but no primary source (e.g., a UK marriage registry or official biography) has been cited in the available sources.
Who was Charlie Mullins’ first wife?
The name of Charlie Mullins’ first wife is not confirmed in any of the verified sources available. Multiple media outlets have mentioned his three marriages without naming the first spouse in a citable manner. This detail falls into the “unclear” category.
What do Pimlico Plumbers reviews say?
Pimlico Plumbers holds an “Excellent” rating on Trustpilot, though the specific score and number of reviews fluctuate. The company advertises itself as available 24/7, 365 days a year, and its service range covers plumbing, heating, electrical, drainage, building, renovation, and HVAC. For a business built on emergency call-out reliability, the Trustpilot rating is a critical barometer — and it remains strong post-sale.
Where is Pimlico Plumbers located?
The company’s registered office address is 1 Ponton Road, London, SW11 1LX, United Kingdom, as listed on Companies House (official UK registry) (company number 02012715).
What was the Pimlico Plumbers legal case about?
Pimlico Plumbers was at the centre of a landmark employment-status case in the UK courts involving a plumber named Gary Smith. Smith worked for the company between 2005 and 2011 and claimed he was a “worker” entitled to holiday pay and other rights, not a self-employed contractor. Pimlico Plumbers argued its plumbers were self-employed, supplied their own materials, and were paid more in exchange for not receiving worker benefits (BBC News).
The case went through seven rounds of litigation from the original employment tribunal in August 2011 to the final judgment in 2022 (EEBS). The Court of Appeal ruled against Pimlico Plumbers in February 2017 (BBC News), and the Supreme Court later dismissed the company’s appeal, with Wikipedia recording the date as February 2018 (Wikipedia). Charlie Mullins told BBC News in 2017 that the company was “very likely” to appeal after losing at an earlier stage.
The pattern: this case became a template for gig-economy worker-status disputes across the UK. Wales Online noted that the Supreme Court’s refusal to hear Pimlico Plumbers’ final appeal effectively confirmed that the company had exhausted all legal avenues.
“It was the biggest mistake of my life, selling my business.”
Charlie Mullins, speaking to the Evening Standard in January 2023 (Evening Standard)
“I regret selling Pimlico Plumbers to a US company.”
Charlie Mullins, speaking to Yahoo Finance in February 2024 (Yahoo Finance)
“Pimlico Plumbers’ position was that its plumbers were self-employed, supplied their own materials, and were paid more in exchange for not receiving worker benefits.”
BBC News on the Gary Smith case (BBC News)
The cascade is clear: the worker-status case cemented Pimlico Plumbers in employment law textbooks just as the founder was preparing his exit. For the private equity buyers, that legal legacy is now part of the asset — and a significant one, given the UK’s evolving gig-economy regulation.
Timeline
- 1979 — Pimlico Plumbers was established in London (BBC News).
- 2005–2011 — Gary Smith worked for Pimlico Plumbers as a plumber (Employee Benefits).
- August 2011 — Original employment tribunal in the Gary Smith case (EEBS).
- February 2017 — Pimlico Plumbers lost at the Court of Appeal (BBC News).
- February 2018 — Supreme Court dismissed Pimlico Plumbers’ appeal, according to Wikipedia (Wikipedia).
- September 2021 — Sale to Neighborly / KKR completed (PE Insights).
- January 2023 — Charlie Mullins calls sale ‘biggest mistake’ (Evening Standard).
- February 2024 — Mullins reiterates regret over selling to a US company (Yahoo Finance).
The pattern: the sale and the legal case converge on the same point — the founder’s exit was also the company’s legal reckoning.
Confirmed facts
- Pimlico Plumbers was established in 1979 (BBC News).
- Pimlico Plumbers Limited is registered at Companies House under number 02012715 (Companies House).
- 2015 revenue was reported at £20m (BBC News).
- Pimlico Plumbers says it is available 24/7, 365 days a year (Pimlico Plumbers official site).
- Charlie Mullins sold Pimlico Plumbers and later described the sale as his ‘biggest mistake’ (Evening Standard).
What’s unclear
- Exact sale price (Sharecast).
- Charlie Mullins’ current net worth (PE Insights).
- Charlie Mullins’ current residence (Evening Standard).
- Name of Charlie Mullins’ first wife (Wikipedia).
- Charlie Mullins’ current marital status (Wikipedia).
Pimlico Plumbers is no longer Charlie Mullins’ company — it’s a KKR-backed asset with a founder who publicly regrets the exit. For the thousands of London homeowners who call them for a burst pipe at 3 a.m., the service remains the same. But for anyone studying the lifecycle of UK service businesses, the lesson is sharp: founder-led companies carry intangible value that PE buyers can’t replicate, and Mullins’ very public second-guessing is that gap made audible.
Frequently asked questions
What services does Pimlico Plumbers provide?
Plumbing, heating, electrical, drainage, building, renovation, and HVAC services.
Does Pimlico Plumbers offer 24-hour emergency call-outs?
Yes, the company advertises availability 24 hours a day, 365 days a year.
How long has Pimlico Plumbers been operating?
Since 1979 — over four decades of continuous operation in London.
Is Pimlico Plumbers a limited company?
Yes, registered as Pimlico Plumbers Limited under company number 02012715 at Companies House.
What is Pimlico Plumbers’ SIC code?
43220 — Plumbing, heat and air-conditioning installation.
Does Charlie Mullins still work at Pimlico Plumbers?
No. He sold his 90% stake in September 2021 and no longer holds any executive role.
What happened in the Gary Smith legal case against Pimlico Plumbers?
The UK courts ruled that Smith was a “worker” entitled to holiday pay and other employment rights, rejecting the company’s argument that its plumbers were self-employed contractors.
Where can I find reliable Pimlico Plumbers reviews?
Trustpilot hosts verified customer reviews; the company currently holds an “Excellent” rating.
The three recurring themes — ownership, service reliability, and worker status — tie every FAQ back to the same post-sale story.
Arthur Oliver Howard Fletcher is a staff writer for NationalReport.uk, covering UK national news, politics, the economy and public services. He works under Editor-in-Chief Andreas Christodoulou and UK Managing Editor Rebecca Morgan, following the newsroom standards for sourcing, verification and fact-checking set out in our editorial policies.