Fluidra acquires the Aqua Products group and makes a strong appearance in the US marketFebruary 14, 2011
The multinational group, which specialises in the development of applications for the sustainable use of water, has gained a strong foothold in the US market with the acquisition of Aqua Products and Aquatron, a leading global manufacturer of electronic swimming pool cleaners.
The acquisition of Aqua Products allows Fluidra to offer new state-of-the-art technology, strengthen innovation, diversify its portfolio, and open up new distribution channels in the United States.
The agreement envisages an initial payment of 44 million US Dollars. This figure will increase depending on the performance of the companies.
Fluidra has signed a definitive agreement to acquire Aqua Products, a privately-held US-based group, with a view to strengthening its core business. This is a strategic move as it allows the company to compete in the US, a high volume market, and gain a foothold in the residential swimming pool market. Fluidra strengthens its position with an innovative technology company, a leading manufacturer of electronic pool cleaners, which is a key product in a high growth market aimed at a potential base of over 16 million swimming pools across the world.
The acquisition of Aqua Products by the Fluidra Group as of March this year will allow the Spanish multinational to start the year with a successful project in one of the areas it knows best: international expansion. With this acquisition, Fluidra, which distributes its products to over 170 countries, opens up new distribution channels for its products, while increasing the diversification of its portfolio. This positions Fluidra as one of the most important manufacturing groups in the water management industry.
Fluidra believes that this strategic acquisition valued at 44 million US Dollars – which represents 4,2 times 2010 EBITDA -, will provide strong returns for the group, as it involves a high-tech, innovative company operating in a high growth sector. In addition, it will allow Fluidra to introduce its range of products into the US market.
“This announcement is good news for our customers and shareholders. There is a very important value generation in this operation. It makes Fluidra become world leader in robotic cleaner technology for pools, whilst opening the door to the residential market in US ”, says Eloi Planes, Fluidra's Managing Director (CEO).
With some 300 employees, the Aqua Products group operates in 40 countries and turns over 33 million euros. The company specialises in the design, manufacture and distribution of electronic pool cleaners, and is one of the world's largest manufacturers. Among its best-known brands are the Aquabot Bravo and Aquabot Viva ranges, Ultrabot, UltraMAX, etc. It also manufactures other brands for third parties. The know-how and technology provided by Aqua Products are a perfect complement to Fluidra's own technology.