Mon, 06 Jun 2022 | BUSINESS SALE
Online building materials retailer CMO Group has continued its push into the UK's plumbing and heating market with the acquisition of bathroom basins e-commerce firm Whiteholme, which trades as clickbasin.co.uk.
The deal was valued at up to £1.25 million, of which £1 million was paid upon completion, with the remaining consideration of £250,000 deferred for six months. The fee represents approximately a 3.47x multiple of Clickbasin’s £360,000 EBITDA for the year ending March 31 2021, generated on sales of £1.87 million.
CMO says that Clickbasin forms part of an “attractive, growing market”, with the acquisition complementing its existing offering and broadening the group’s “integrated plumbing superstore offering which will be launched in Q3 of this year.”
Clickbasin is expected to generate around £50,000 EBITDA for the group during the remainder of the current financial year and to be accretive in the first full year post-acquisition. The company’s product range includes bathroom cabinets, mirrors, vanity units, wall-hung basins and associated bathroom products.
The acquisition, which follows CMO’s takeover of JTM Plumbing last year, is part of the group’s efforts to grow its footprint in the UK’s plumbing market. The group has said that it will continue to target acquisitions, alongside organic growth, as it pursues this strategy.
CMO Group CEO Dean Murray said: “Our strategic goal is to provide our customers with everything they need to build or maintain a home, through a simple, convenient and supported shopping experience. We will achieve this through adding specialist verticals, either organically or through acquisition, supported by customer centric technology development.”
“Today’s acquisition announcement of clickbasin.co.uk more than fits that model, taking our plumbing vertical into a new product area. clickbasin.co.uk, together with JTM Plumbing, will combine to form plumbingsuperstore.co.uk which will be launched in Q3, providing a platform on which to further penetrate the c£800m online Plumbing and Heating market and use the power of our business model to provide leading choice and value to our customers.”
Find businesses for sale here.
If you are looking for an exit, we can help!
An excellent opportunity to acquire a well sized site with great development potential and a strong retail business, with scope to increase trade. The store is presented in excellent condition and offers the customer a good experience with well laid...
LEASEHOLD
Located in an idyllic location close to a busy market town. A garden centre/nursery with café, nursery and a bungalow are available for sale.
FREEHOLD
Freehold circa 4.7 acres (1.9 hectares). Same family ownership for the past 35 years. Located adjacent to a busy ‘A’ road. Tarmac and white lined car park accommodating circa 90 cars. Comprehensive buildings, glasshouses, poly and netted tunnels.
FREEHOLD
19
|
Apr
|
US firm acquires Somerset employee management provider | BUSINESS SALE
An employee management services firm based in Somerset has b...
18
|
Apr
|
Education specialist makes second LDC-backed acquisition | BUSINESS SALE
Hybrid, an education media and marketing services firm, has ...
18
|
Apr
|
Administrators appointed to SPV behind £24m Bolton redevelopment | ADMINISTRATION
A special purpose vehicle (SPV) behind a £24 million r...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.