B&Q and Screwfix owner Kingfisher plc has announced plans to grow NeedHelp, the international home improvement lead generator into the UK, after acquiring the international platform for a total cash consideration of around.€10 million.
In a statement announcing the acquisition, the buyer says: “In the UK, NeedHelp will be able to support B&Q’s customers who need assistance with their home improvement projects, as well as cooperate with Screwfix’s customer base of trade professionals.”
The buyer says the acquisition represents an important step for one of its key priorities under its ‘Powered by Kingfisher’ strategy of building a ‘mobile-first and service-orientated customer experience’.
NeedHelp is growing rapidly. In 2020 the number of jobs completed through its platform is set to reach 58,000. With more people seeking to improve their homes since the Covid-19 pandemic began, the demand for NeedHelp has accelerated, with its monthly revenue doubling after the first lockdown period.
NeedHelp was founded in France in 2014 by Guillaume de Kergariou, who will continue as CEO. He has also reinvested proceeds from the sale in a 20% interest in the business, resulting in Kingfisher owning 80%.
The buyer says NeedHelp’s strong growth is being driven by its highly differentiated proposition. It adds that “Unlike other service marketplaces which aim to provide a directory of tradespeople or ‘jobbers’, NeedHelp focuses on the specialist skills needed for home improvement.”
Kingfisher CEO Thierry Garnier said: “Online services marketplaces are key to the future of home improvement retail and NeedHelp is an established and fast-growing player in this arena.
“Looking ahead, we will develop NeedHelp quickly in the UK and Poland by leveraging our extensive store network and our differentiated banners that serve both home improvers and tradespeople. This represents an exciting opportunity to create a more complete services offer and to help make better homes accessible for everyone.”
www.needhelp.com
