British Gas owner Centrica yesterday bought Dyno-Rod in a £57.6 million (€83.5 million) deal that boosted its home services operation.

Centrica said the acquisition also gave it access to 14 million private households that rely on emergency call-out services in a market worth more than £500 million a year.

The deal hands Dyno-Rod founder Mr Jim Zockoll a windfall of £49 million and ends speculation that the firm might be heading for a stock market listing.

British Gas has 1.2 million customers who have signed up for plumbing and drain cover, with much of this work handed to Dyno-Rod on a contractual basis.

Dyno-Rod employs 131 staff at its head office in Surrey, and has 162 franchises offering services from emergency plumbing and locksmith services to pest control.

Mr Ciarán Crowley, director of Dyno-Rod, said the move would provide better resources, including more employees, to give customers improved services in Ireland. "What we're seeing here is a group that will provide momentum," he said.

In 2004, Dyno-Rod is expected to have generated revenues of £13 million as a company, while turnover from its wider franchise operation is forecast at £60 million. Pre-tax profits for the year are predicted to be £6 million.

Mr Zockoll, who sold his 85 per cent stake in Dyno-Rod, developed the business into a nationwide brand since founding it as a plumbing firm during his spare time in 1963.