FRP Advisory advises on international deal

FRP Advisory LLP has advised Sweden-based FM Mattsson Mora Group AB, a supplier of kitchen and bathroom taps in the Scandinavian market, on its £15.6m acquisition of Netherlands-headquartered Hot Bath BV.

The team, which was led by Mark Naughton and Harry Walker in the corporate finance team, provided lead advisory services on the deal.

Hot Bath is a supplier of kitchen and bathroom taps and shower systems in the Netherlands. In 2018, the business delivered revenues of £18m 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, the business manages its supply chain and delivers sales to international markets such as New Zealand and Israel.

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.”

Mark Naughton, corporate finance partner at FRP in Bristol, added: “It has been a pleasure to work closely with Fredrik, CFO Martin Gallacher and the wider team at FM Mattsson Mora Group. We’ve known Martin for a number of years and it was a pleasure to support his team on this landmark deal, which also marks the third international deal our team has advised on in the last year.”