Sales In The First Half Of The Year Exceeded 27 مليار! This Home Giant Has Acquired Another Bathroom Company

Original Kitchen & مطبخ الحمام & عناوين الحمام

حديثاً, FBHS announced that it has completed the acquisition of Aqualisa Holdings (hereinafter referred to as Aqualisa) ل $160 million (about RMB 1.080 مليار). 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 مليار (about RMB 8.728 مليار). 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 (يوان تقريبا 1.080 مليار).

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, UK, and employs about 260 الناس. 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 مليار

According to the recently released FBHS H1 2022 report, the company achieved sales of $4.028 مليار (يوان تقريبا 27.183 مليار) from January to June, ازدياد ب 9% على أساس سنوي. خلال نفس الفترة, 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 مليار (يوان تقريبا 8.728 مليار), انخفاض 2% year-over-year. Sales of the cabinet business, including bathroom cabinets, were $1.633 مليار (يوان تقريبا 11.014 مليار), ازدياد ب 11% year-over-year. Sales of outdoor and security products business were $1.102 مليار (about RMB 7.432 مليار), ازدياد ب 17% على أساس سنوي.

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. لكن, 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 نسبه مئويه.

A review of FBHS’s annual reports published since its IPO shows that the company’s sales have doubled in 10 سنين. في 2011, FBHS sales were $3.3 مليار, and have largely maintained a growth trend over the past 10 years since then. By 2021, FBHS sales reached $7.7 مليار, ازدياد ب 26% from the previous year. Looking ahead to 2022, FBHS expects full-year sales growth to remain in the 6.5% ل 7.5% range. Earnings per share are in the range of $6.36 ل $6.50.

 

Acquired more than 20 companies in 50 سنين

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.

في 1970, the company acquired Master Lock, a security lock company.

في 1988, the acquisition of Aristokraft and Waterloo

في 1990, the acquisition of موين

في 1998, acquired Decora, Diamond, Kemper, Schrock

في 2002, acquired Omega

في 2003, acquired American Lock, Therma-Tru doors

في 2007, acquired Simonton windows, Fypon millwork products

في 2011, listed on the New York Stock Exchange

في 2013, acquired Wood Crafters

في 2014, acquired Sentrysafe and sold Simonton windows

في 2015, acquired Norcraft, sold Waterloo

في 2016, acquired Riobel, بيرين & Rowe and established Global Plumbing Group (GPG)

في 2017, the acquisition of Shaws, Victoria + Albert

في 2018, the acquisition of Fiberon

في 2020, the acquisition of Larson storm doors

في 2022, the acquisition of Aqualisa