We have advised Sweden-based FM Mattsson Mora Group AB (“the Group”), the leading supplier of kitchen and bathroom taps in the Scandinavian market, on its €17.7m acquisition of Netherlands-headquartered Hot Bath B.V. (“Hot Bath”).
The team, which was led by Harry Walker and Mark Naughton in our Corporate Finance team, provided lead Advisory services on the deal.
Hot Bath is a market-leading supplier of kitchen and bathroom taps and shower systems to specialist outlets primarily in the Netherlands. In 2018, the business delivered revenues of €20.5m and today it employs 37 people.
Its products, which are known for their high quality and design, are manufactured in Italy and through its Italian sister company, Hot Bath Srl, Hot Bath manages its supply chain and delivers sales to international markets such as New Zealand and Israel. Hot Bath Srl will also be acquired as part of the deal, which is expected to complete on 14 May.
The acquisition, which includes Hot Bath Srl, represents a key step in the Group’s growth strategy and sees it acquire a fast-growing brand with a complementary product portfolio and a market-leading position in the Netherlands. Hot Bath will operate as a free-standing business unit within the Group.
Fredrik Skarp, CEO of FM Mattsson Mora Group AB, said: “Hot Bath is an excellent strategic fit with our current geographic footprint and product portfolio. We have been highly impressed by its dynamic culture and are excited by the opportunities presented.”
Harry added: “It has been a pleasure working with Fredrik and the team at FM Mattsson Mora Group on such an important deal for the Group. The successful completion of this multi-jurisdictional transaction, which involved working with advisers across four countries, also demonstrates the strength of the advisory community here in the East Midlands and showcases our ability to advise on the international stage.”
We employ more than 300 people across 19 locations, including Leicester and Nottingham in the East Midlands, and our 21-strong national Corporate Finance team has grown by more than a third in the past 18 months.