Fluidra Reaches a Deal to Acquire Fabtronics
BARCELONA, Spain--(BUSINESS WIRE)--Feb 14, 2020--
Fluidra, the global leader in the pool and wellness equipment business, has acquired Australian manufacturer Fabtronics to strengthen its R&D capabilities and to incorporate complete, efficient and cost-effective electronics design and manufacturing solutions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200214005148/en/
The purchase price for 80% of the shares was AUD 15M, with an implicit price for 100% of AUD 18.75M. The agreed takeover also includes a set of earn-outs to take place during the following three calendar years.
Fabtronics is based in Melbourne, close to Fluidra’s main manufacturing facility, and includes a team of c.45 people as well as a state-of-the-art PCB design and manufacturing plant of over 3,000 sqm. The company features an annual turnover and EBITDA of AUD 18M and AUD 6M respectively.
In the past 15 years, Fabtronics provided research and development support to Fluidra’s Australian business and played a key role in many significant products, establishing itself as one of the leading electronic designers in the country. Many of Fluidra’s products designed and manufactured in Australia, like the Viron and EQ chlorinators, which Fabtronics assisted in designing and developing, have gone on to be sold throughout the world via Fluidra’s global network.
“This acquisition strengthens Fluidra’s position worldwide, helping us expand our R&D capabilities and enabling us to accelerate innovation to meet local market needs,” said Bruce Brooks, CEO at Fluidra.
Fluidra is committed to expanding its portfolio of technologies with acquisitions tailored to growing the business, like Fabtronics, which has been an essential R&D contributor in the region.
Fluidra, a Spanish listed firm, is the global leader in the pool and wellness equipment business. It provides innovative products, services and Internet of Things solutions. The company operates in over 45 countries and owns a portfolio of some of the industry’s most recognized and trusted brands, including Jandy®, AstralPool®, Polaris®, Cepex®, Zodiac®, CTX Professional® and Gre®.
To learn more about Fluidra, visit www.fluidra.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20200214005148/en/
CONTACT: Media contacts:
Sarah Estébanez, [email protected],+34 636 62 80 41
Xana Pena, [email protected], +34 674 73 47 82
KEYWORD: AUSTRALIA/OCEANIA UNITED STATES UNITED KINGDOM NORTH AMERICA AUSTRALIA EUROPE
INDUSTRY KEYWORD: RETAIL LUXURY OTHER RETAIL HOME GOODS MANUFACTURING SPECIALTY OTHER MANUFACTURING
Copyright Business Wire 2020.
PUB: 02/14/2020 04:37 AM/DISC: 02/14/2020 04:37 AM