By Anthony O. Goriainoff
Homeserve PLC said Friday that its performance in the first quarter of fiscal 2023 has been in line with the board’s expectations, and that it continues to execute its buy-and-build heating, ventilation, and air conditioning, or HVAC, strategy.
The U.K. home-repairs business said that despite a moderation in consumer demand in the U.K. its Home Experts division saw the number of trades on its Checkatrade platform pass 47,000, as its tiered subscription packages performed well and trades retention continued to improve.
The company said the period saw acquisition taking place in North America, the U.K., France and Spain.
The company said the acquisition of Homeserve by Hestia Bidco Ltd., an indirect subsidiary of Brookfield Infrastructure Partners LP, is still expected to be completed in the fourth quarter of 2022. It said shareholders will vote on the transaction Friday.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
