Asurion completed its acquisition of Domestic & General, expanding its global technology and appliance care platform. Financial terms were not disclosed.
The combination brings together Asurion’s technology care, support, and protection capabilities with Domestic & General’s appliance protection business.
Domestic & General operates across the U.K., Europe, the U.S., and other international markets.
The company has more than a century of appliance care experience and partnerships with more than 100 brands, including Whirlpool, Sky, Hoover-Candy, and John Lewis.
Domestic & General operates in 12 markets, protects more than 22 million appliances, and serves more than 7 million subscription customers.
Its workforce includes more than 4,000 employees.
The company repairs more than 2.6 million appliances annually.
Asurion said the acquisition expands its opportunity in the connected-home devices market, which it estimates exceeds $150 billion.
Domestic & General will continue operating under its existing brand within Asurion, with no immediate changes planned for customers or partners.
Goldman Sachs served as lead financial advisor to Asurion, while Morgan Stanley also advised the company.
Hogan Lovells and Cadwalader served as legal counsel to Asurion. Rothschild & Co advised CVC, while Latham & Watkins served as CVC’s legal counsel.
KEY QUOTES:
“Bringing Asurion and Domestic & General together expands our ability to do that across more of the technology and appliances people rely on every day, while extending our reach to millions more customers around the world.”
“Together, Asurion and D&G have an opportunity to make that complexity simpler, helping customers protect, manage and get more value from their technology throughout its life.”
Guru Gowrappan, CEO of Asurion
“Those strengths, combined with Asurion’s technology care capabilities and our shared commitment to customer and partner excellence, make this a compelling fit.”
Matthew Crummack, CEO of Domestic & General
