Vendigo Finance has exchanged contracts on a proposed acquisition by Hassle Free Boilers in a deal that brings together two of the fastest growing names in home improvement services and trade finance.
The deal brings Vendigo Finance into the Hassle Free Boilers family of brands, which also includes The Trade Toolbox, a provider of home finance solutions for installers and the recently acquired Hiber app.
The acquisition, which is subject to regulatory approval, will enable Hiber and The Trade Toolbox to provide end-to-end solutions along the entire length of the home improvement customer journey, from lead generation through to quotation, parts ordering, financing and invoicing.
Vendigo will provide the e-commerce finance platform for Hiber and The Trade Toolbox, strengthening the company’s technology capabilities and enabling installers to introduce finance packages to homeowners in their own home, online, over the phone or via email.
Michael Macklin, chief executive of Vendigo, commented: “We are very excited to join the Hassle Free Boilers family and add the final piece of the home improvement solution, namely the e-commerce capability. We have been growing quickly, but this deal will enable us to grow even faster and further enhance our own service offering.”
He continued: “We are complementary businesses that together can provide an extraordinary breadth of services to the central heating installer and the wider home improvement market, including windows, kitchens, roofing, and bathrooms.
The deal, which was completed with the advice of Fox Williams Solicitors and BPE Solicitors, will see Vendigo continue to operate as an independent and fully licensed credit broker and maintain its own panel of prime and near prime lenders. This will ensure that its existing and future customers have the widest possible range of financing products, highest possible approval rates, and best achievable pricing.
Ryan Harmer, director of Hassle Free Boilers, responsible for The Trade Tool Box and Hiber, echoed the sentiment: 'Vendigo offer a best-in-class e-commerce platform that is proven and trusted in the marketplace. As a group we are now able to offer a complete home improvement solution supporting trade specialists, including installers, kitchen fitters and landscape gardeners, at every customer touchpoint.”
He continued: “This is a great deal for the two companies, for the home improvement marketplace and for homeowners, and we are looking forward to working together and deepening the relationship between our respective teams.”
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