Charlie Mullins: plumber to the rich and famous

Charlie Mullins bunked off school as a child to earn money fixing pipes. Over 50 years on, he sold his plumbing business for more than £125m. Now he has his sights on becoming mayor of London.

Charlie Mullins
(Image credit: © Geoff Pugh/Shutterstock)

Charlie Mullins, the self-styled “plumber to the rich and famous”, once observed that his most prudent investment was the bag of tools he built up as an apprentice. “Every time I had some money, I would buy another tool.” They have stood him in good stead, says the Financial Times. Mullins, 68, has sold his 90% stake in Pimlico Plumbers to the American “home service” giant Neighborly (itself owned by KKR) in a deal worth between £125m and £145m. His son, Scott Mullins, who retains a stake of about 10%, will continue as chief executive. Last month, Scott praised his father “for creating the business out of nothing”.

Three years ago, Mullins vowed he would “never sell” the company he began in an estate agent’s basement in 1979. But stuff happens. Four years after tying the knot in Las Vegas, Mullins and his second wife divorced this year. Meanwhile, the fortunes of Pimlico Plumbers have advanced considerably. “Covid-19 helped lift the company to another level,” he told the BBC, pointing to an increase of 2,000-3,000 jobs a week. The firm currently makes annual revenues of around £50m. “It now needs to go international.”

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Jane writes profiles for MoneyWeek and is city editor of The Week. A former British Society of Magazine Editors editor of the year, she cut her teeth in journalism editing The Daily Telegraph’s Letters page and writing gossip for the London Evening Standard – while contributing to a kaleidoscopic range of business magazines including Personnel Today, Edge, Microscope, Computing, PC Business World, and Business & Finance.

She has edited corporate publications for accountants BDO, business psychologists YSC Consulting, and the law firm Stephenson Harwood – also enjoying a stint as a researcher for the due diligence department of a global risk advisory firm.

Her sole book to date, Stay or Go? (2016), rehearsed the arguments on both sides of the EU referendum.

She lives in north London, has a degree in modern history from Trinity College, Oxford, and is currently learning to play the drums.