The deal will see founder Charlie Mullins offload his 90% stake in the group.
Pimlico Plumbers has been sold to US home services group Neighborly.
Founded in 1979, Pimlico's services include heating, plumbing, bathrooms, drainage and electrics. It completes an average of more than 100,000 service jobs for central London homeowners and businesses each year. He said the firm had experienced a strong year despite the coronavirus pandemic, with both in and out-of-hours calls increasing, as well as emergency call outs.
Mr Mullins plans to use some of the income from the sale to back other ventures in music promotion and overseas property.
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