Hometree, the residential energy services company, has acquired Sheffield-based renewable energy installer IMS Heat Pumps.
Founded in 2015, Hometree has become a challenger brand in residential energy services. With an initial focus on home emergency breakdown and insurance, Hometree has since expanded into renewable installations and financing.
With demand set to surge for renewable energy installations, Hometree is in a prime position to accelerate the change from gas boilers to heat pumps and other renewable forms of technology across the UK.
With targets set to have 600,000 heat pumps installed by 2028, Hometree is capitalising on this switch to renewables by acquiring IMS Heat Pumps, which has pioneered heat pump installations across England and Scotland since 1997.
IMS Heat Pumps will gain access to Hometree’s customer base, its suite of financing products and insurance services.
Meanwhile, the acquisition will enable Hometree to bolster its engineering force and re-train more of its 5,000 engineers to be able to install, repair and maintain renewables.
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.”
