ThinkSmart Signs New Retailer Agreement with Kingfisher in the UK

23 Oct ThinkSmart Signs New Retailer Agreement with Kingfisher in the UK

• Kingfisher is Europe’s largest home improvement retail group
• Trial of new product, install+protect™, to commence this week in advance of a planned launch in Q2 2014

ThinkSmart said today it has entered into a new trading agreement with Kingfisher Future Homes Limited (“Kingfisher”), a division of Kingfisher plc, Europe’s largest home improvement retail group.

ThinkSmart and Kingfisher have developed a gas boiler leasing product which will be sold to both consumers and business customers in the UK. This new rental product, to be marketed as install+protect™, will provide UK landlords with an innovative and cost effective way to replace or upgrade gas boilers in their rental properties. A trial of install+protect™ will commence this week in advance of a planned national roll-out in Q2 of 2014.

ThinkSmart Executive Chairman and CEO, Mr Montarello said: “This new product will bring innovation to a market with scale. There are around four million privately rented homes in the UK with the vast majority heated by gas boilers, many of which are replaced each year. install+protect™ will also help landlords to improve the energy efficiency rating of their property and comply with planned energy saving legislation scheduled for introduction in 2018.”

Ned Montarello said: “Partnering with another leading UK retailer has been a key objective of our business for some time. Kingfisher is the UK’s leading home improvement group and we intend to work closely together on this exciting opportunity.”

“The potential from combining Kingfisher’s retailing expertise and broad distribution with our leading online point-of-sale processes and operational capabilities is exciting. This is a significant new partnership for ThinkSmart that we expect to contribute meaningfully to the strong growth trajectory of the UK business”, Mr Montarello said.