Private‑equity firm Pollen Street is taking a controlling interest in a newly merged home‑services group that combines Hometree with OVO Energy’s Home Services arm. The joint entity brings together Hometree’s insurance platform with OVO’s CORGI HomePlan and HomeHeat offerings, creating a broader portfolio for UK homeowners.

The merger positions the combined business as the United Kingdom’s third‑largest provider of home‑emergency insurance, challenging incumbents such as Direct Line and Aviva. Backed by growth capital from Pollen Street, Hometree plans to accelerate rollout of emergency‑cover products and leverage OVO’s customer base to cross‑sell services.

OVO Energy’s Home Services division contributes the established CORGI HomePlan brand and the HomeHeat heating‑service platform, both of which have sizable subscriber bases. Integrating these assets gives the new group a diversified revenue stream, blending insurance premiums with recurring service fees, a model investors favor for its resilience in a volatile market.

For investors, the deal signals private‑equity confidence in the fragmented UK home‑services sector and may trigger further consolidation as firms seek scale to meet rising consumer demand for bundled protection and energy solutions. The transaction values the combined entity at an undisclosed sum, but the strategic fit suggests a clear path to profitability.