Charlie Mullins has sold his stake in Pimlico Plumbers for more than £100m after being at the helm for over four decades.
Charlie Mullins has sold his stake in Pimlico Plumbers for more than £100m after being at the helm for over four decades.
Charlie Mullins has sold his stake in Pimlico Plumbers for more than £100m after being at the helm for over four decades.
Charlie Mullins has sold his stake in Pimlico Plumbers for more than £100m after being at the helm for over four decades.


Charlie Mullins is a 'cheeky' millionaire plumber and the ultimate disruptor


  • English
  • Arabic

September 22, 2021

At the annual conference of Britain's ruling Conservative Party, it was impossible to miss Charlie Mullins.

He was the one with dyed blond hair, heavily tanned, wearing the loudest blue suit imaginable and a tie with a vast knot in the same startling, garish hue.

He was accompanied by an entourage as he wove his way through the gathering, nodding and shaking hands with anyone. More ageing pop star than politician, he was there to push the case for the UK remaining in the EU.

He was the cheeky chappie, the good-time Charlie, who spoke how he saw it in his native Sarf London twang. There was something bouncy, energetic and refreshing about Mullins, certainly in that setting.

Not for him the playing fields of Eton and the quadrangles of Oxford. He left school at 15 with no qualifications, the son of a factory worker and a cleaner.

He got a job as a plumber’s assistant. By the age of 27 he had set up his own business, Pimlico Plumbers, the company that has the vans with the jokey registration plates and are decked out in the same vivid colour as his suit.

This week, Mullins, 68, sold his 90 per cent stake for more than £100 million ($136.3m). One of his sons, Scott, will run the company as chief executive. Scott will own 10 per cent of Pimlico Plumbers, which will now belong to US services group Neighborly.

To my mind, Mullins is living proof that if you work hard enough, if you maintain a fierce will and discipline, you can succeed. It's not guaranteed – you may require a degree of good fortune along the way – but there’s also the adage that you make your own luck.

I’ve met Mullins several times. Behind the cockiness and mateyness, however, I’ve always known there to be someone of determination and steel. His is a business, after all, that makes £50.7m a year and employs 400 staff. Show me a plumber who nets that sort of money.

Mullins has expanded beyond straightforward plumbing – now he’s branching out to bathrooms, electrics, heating and cleaning drains. In all, his blue vans are racing to 100,000 jobs at central London homes and businesses every year.

Behind the cockiness and mateyess, however, I’ve always known there to be someone of determination and steel

Neighborly plan to expand the Pimlico Plumbers formula nationally and internationally. The founder, meanwhile, who has been spending much of his time in Dubai, will only say he is going to invest in music promotion and overseas property.

Business and management schools may turn their noses up at Mullins but if anyone qualifies as an industry disruptor it is Charlie. When he started out, he was armed with a second-hand van and a box of tools. Overalls, if they were worn, were scruffy and dirty.

Some odd-jobs people are still like that. They turn up at your house and when you answer the door you seriously think twice about letting them in. But not so many these days.

Thanks to Mullins, an entire sector has smartened up. His workers wear neat polo shirts and clean boiler suits. They’re polite and say please and thank you, their hands are scrubbed and they don’t swear. They don’t slink off for a crafty fag or a sneaky pint in the pub – they stay and finish the work. They tidy up after themselves.

They do so on pain of being fired. He’s a tough nut is Mullins. His employees must be double-jabbed against Covid – no vax, no job. His line is that they’re going into homes and offices, often into poorly ventilated rooms, so it is only right they’re vaccinated.

  • Charlie Mullins, founder of Pimlico Plumbers in the UK, is on the hunt for investors to help scale up his growing empire.
    Charlie Mullins, founder of Pimlico Plumbers in the UK, is on the hunt for investors to help scale up his growing empire.
  • The eccentric businessman wants to start a new business venture in Dubai. Photos by Antonie Robertson / The National
    The eccentric businessman wants to start a new business venture in Dubai. Photos by Antonie Robertson / The National
  • Despite the pandemic, Pimlico Plumbers recorded one of its most successful years to date, with a turnover of £50 million. Antonie Robertson / The National
    Despite the pandemic, Pimlico Plumbers recorded one of its most successful years to date, with a turnover of £50 million. Antonie Robertson / The National
  • Mr Mullins was awarded an Order of the British Empire for his services to the industry. Supplied
    Mr Mullins was awarded an Order of the British Empire for his services to the industry. Supplied
  • Pimlico Plumbers was first established in 1979 when Mr Mullins, 68, set up the company from a small basement in central London. Antonie Robertson / The National
    Pimlico Plumbers was first established in 1979 when Mr Mullins, 68, set up the company from a small basement in central London. Antonie Robertson / The National

He’s had his scrapes has Mullins; he’s lived it large. But don’t be fooled. I remember the first occasion when I went to his yard not far from Elephant & Castle where he grew up (he called it Pimlico because the name sounded posher) and being struck as to how spotless everything was. Equipment, vehicles, personnel – there was no messing about.

His method was calculating. Take the registrations: around me were the distinctive vans bearing the logo and numbers such as BOG1, LOO 2 WET, FLU55H. Over the years, he’s spent more than £1m on the plates alone. His thinking is clear: it adds to the branding, the identity. They make people smile and that’s a good thing; they’ve a warm attitude towards Pimlico Plumbers. If they can’t recall the name, they know it’s the one with the funny vans. After that, finding the company and the contact details is easy.

What it amounts to is that he’s been able to charge more. His rates are at the top end but, as he would say, you pay for what you get. He spends heavily on training. Pimlico Plumbers, he will tell you, don’t cut corners, will not do a botched job. If they must be called back for whatever reason, they go back, no questions asked – they won’t say they’re now on another assignment and cannot return.

The South London plumber now spends much of his time in Dubai. Photo: Antonie Robertson / The National
The South London plumber now spends much of his time in Dubai. Photo: Antonie Robertson / The National

That’s what he maintains. There are some who say Pimlico over-promotes, that for all the polish and marketing, they’re still plumbers and that really, they’re little different from the others. To which the answer is, again, find me another who makes Mullins’ cash.

The exact details of the deal with Neighborly are shrouded in secrecy. For once, the voluble Mullins is keeping quiet. What he will say, though, is that “I won’t need to clean any more blocked drains. I had to make a decision whether I wanted to work for another five to 10 years to grow the business [but] Neighborly can take it to the next level.”

He’s also had a good pandemic, with people WFH and having to call upon his company’s services.

Mullins once said: “I don’t like banks they’re crooks in suits”. That hasn’t prevented him taking a mighty pot of lucre off Neighborly, which is owned by the (non-crooked) financial wizards at ultra-smart, private equity powerhouse, KKR.

For all his talk, he’s not one to turn down an opportunity is Charlie.

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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SERIES INFO

Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series

All matches at the Zayed Cricket Stadium, Abu Dhabi

Test series

1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March

Play starts at 9.30am

T20 series

1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March

TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Sunday's Super Four matches

Dubai, 3.30pm
India v Pakistan

Abu Dhabi, 3.30pm
Bangladesh v Afghanistan

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Pakistan T20 series squad

Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin

UAE currency: the story behind the money in your pockets
The specs
Engine: 3.6 V6

Transmission: 8-speed auto

Power: 295bhp

Torque: 353Nm

Price: Dh155,000

On sale: now 

Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

the pledge

I pledge to uphold the duty of tolerance

I pledge to take a first stand against hate and injustice

I pledge to respect and accept people whose abilities, beliefs and culture are different from my own

I pledge to wish for others what I wish for myself

I pledge to live in harmony with my community

I pledge to always be open to dialogue and forgiveness

I pledge to do my part to create peace for all

I pledge to exercise benevolence and choose kindness in all my dealings with my community

I pledge to always stand up for these values: Zayed's values for tolerance and human fraternity

Squad

Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas) 

BRIEF SCORES

England 353 and 313-8 dec
(B Stokes 112, A Cook 88; M Morkel 3-70, K Rabada 3-85)  
(J Bairstow 63, T Westley 59, J Root 50; K Maharaj 3-50)
South Africa 175 and 252
(T Bavuma 52; T Roland-Jones 5-57, J Anderson 3-25)
(D Elgar 136; M Ali 4-45, T Roland-Jones 3-72)

Result: England won by 239 runs
England lead four-match series 2-1

The biog

Name: Salvador Toriano Jr

Age: 59

From: Laguna, The Philippines

Favourite dish: Seabass or Fish and Chips

Hobbies: When he’s not in the restaurant, he still likes to cook, along with walking and meeting up with friends.

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The story of Edge

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.

It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.

Edge has an annual revenue of $5 billion and employs more than 12,000 people.

Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab

 

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
T20 WORLD CUP QUALIFIERS

Qualifier A, Muscat

(All matches to be streamed live on icc.tv) 

Fixtures

Friday, February 18: 10am Oman v Nepal, Canada v Philippines; 2pm Ireland v UAE, Germany v Bahrain 

Saturday, February 19: 10am Oman v Canada, Nepal v Philippines; 2pm UAE v Germany, Ireland v Bahrain 

Monday, February 21: 10am Ireland v Germany, UAE v Bahrain; 2pm Nepal v Canada, Oman v Philippines 

Tuesday, February 22: 2pm Semi-finals 

Thursday, February 24: 2pm Final 

UAE squad:Ahmed Raza(captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia

How to volunteer

The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.

RESULT

Valencia 3

Kevin Gameiro 21', 51'

Ferran Torres 67'

Atlanta 4

Josip Llicic 3' (P), 43' (P), 71', 82'

THE SPECS

Engine: 2.0-litre 4-cylinder turbo

Power: 275hp at 6,600rpm

Torque: 353Nm from 1,450-4,700rpm

Transmission: 8-speed dual-clutch auto

Top speed: 250kph

Fuel consumption: 6.8L/100km

On sale: Now

Price: Dh146,999

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

TEST SQUADS

Bangladesh: Mushfiqur Rahim (captain), Tamim Iqbal, Soumya Sarkar, Imrul Kayes, Liton Das, Shakib Al Hasan, Mominul Haque, Nasir Hossain, Sabbir Rahman, Mehedi Hasan, Shafiul Islam, Taijul Islam, Mustafizur Rahman and Taskin Ahmed.

Australia: Steve Smith (captain), David Warner, Ashton Agar, Hilton Cartwright, Pat Cummins, Peter Handscomb, Matthew Wade, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Matt Renshaw, Mitchell Swepson and Jackson Bird.

The%20specs
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The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Countries offering golden visas

UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.

Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.

Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.

Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.

Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence. 

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COMPANY%20PROFILE
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Updated: September 22, 2021, 5:17 PM