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Recently, FBHS announced that it has completed the acquisition of Aqualisa Holdings (hereinafter referred to as Aqualisa) for $160 million (about RMB 1.080 अरब). FBHS owns well-known bathroom brands such as Moen and ROHL. In the first half of the year, its water innovation business had sales of $1.294 अरब (about RMB 8.728 अरब). The acquisition will strengthen FBHS’s global presence in the sanitary industry.
Spending about 1.08 billion yuan to acquire a British bathroom company
On August 1, local time, FBHS announced that it has acquired Aqualisa, a British bathroom brand known for its innovative and intelligent shower systems and customer service. The acquisition was completed on July 29 for approximately $160 million (approximately RMB 1.080 अरब).
Nicholas Fink, CEO of FBHS, said the acquisition is a key strategy for the company in the water sector. As a member of the Water Innovation business, Aqualisa will enable the company to provide strong momentum in water management, connected products and global sustainability. Also, with the Aqualisa acquisition, FBHS’ Water Innovation business will gain access to digital shower products across price points, technologies and regions, driving further business growth.
Nicholas Fink also said that Aqualisa is a great addition to the company’s bathroom brands such as Moen and ROHL. They will leverage strong marketing capabilities and a continuously growing water innovation platform to expand sales in the U.S., U.K. and Europe, and enter new markets in the future.
According to public information, Aqualisa was founded in 1976 and is a leading manufacturer of intelligent shower products. It has a strong reputation in the UK market for shower products manufactured and marketed primarily under the Aqualisa brand. Currently, the company is headquartered in Westram, यूके, and employs about 260 people. As previously reported, Aqualisa replaced its chief executive officer not long ago. Mat Norris has replaced Colin Sykes, who had held the position since 2018. The latter will continue to serve as a non-executive director and strategic advisor to the company.
First-half sales of approximately $27.183 अरब
According to the recently released FBHS H1 2022 report, the company achieved sales of $4.028 अरब (approximately RMB 27.183 अरब) from January to June, की वृद्धि 9% year-on-year. During the same period, FBHS’ EBITDA was $373 million, a 6% decrease year-over-year.
By business, in the first half of the year, sales of FBHS’ water innovation business (plumbing business) were $1.294 अरब (approximately RMB 8.728 अरब), a decrease of 2% year-over-year. Sales of the cabinet business, including bathroom cabinets, were $1.633 अरब (approximately RMB 11.014 अरब), की वृद्धि 11% year-over-year. Sales of outdoor and security products business were $1.102 अरब (about RMB 7.432 अरब), की वृद्धि 17% year-on-year.
In its semi-annual report, FBHS mentioned price adjustment measures, saying that it delivered strong results in the second quarter as inflation was fully offset by price and cost-related measures. They also said that sales of outdoor and safety products and cabinet products all grew, driven by these measures. तथापि, sales in the Water Innovations business declined 6 percent in the second quarter due to the impact of the outbreak-related shutdown in China, and when China is removed, Water Innovations sales had a 4 percent growth rate and an operating margin of approximately 24.9 प्रतिशत.
A review of FBHS’s annual reports published since its IPO shows that the company’s sales have doubled in 10 साल. में 2011, FBHS sales were $3.3 अरब, and have largely maintained a growth trend over the past 10 years since then. द्वारा 2021, FBHS sales reached $7.7 अरब, की वृद्धि 26% from the previous year. Looking ahead to 2022, FBHS expects full-year sales growth to remain in the 6.5% को 7.5% range. Earnings per share are in the range of $6.36 को $6.50.
Acquired more than 20 companies in 50 साल
As a giant company, although FBHS is not as well known in China as subsidiaries such as Moen and ROHL, the development of this company is a typical example of the growth of the home industry through acquisition. It can be said that the history of FBHS is a history of brand acquisitions.
में 1970, the company acquired Master Lock, a security lock company.
में 1988, the acquisition of Aristokraft and Waterloo
में 1990, the acquisition of मोइन
में 1998, acquired Decora, Diamond, Kemper, Schrock
में 2002, acquired Omega
में 2003, acquired American Lock, Therma-Tru doors
में 2007, acquired Simonton windows, Fypon millwork products
में 2011, listed on the New York Stock Exchange
में 2013, acquired Wood Crafters
में 2014, acquired Sentrysafe and sold Simonton windows
में 2015, acquired Norcraft, sold Waterloo
में 2016, acquired Riobel, Perrin & Rowe and established Global Plumbing Group (GPG)
में 2017, the acquisition of Shaws, Victoria + Albert
में 2018, the acquisition of Fiberon
में 2020, the acquisition of Larson storm doors
में 2022, the acquisition of Aqualisa