Fluidra reaches a deal to acquire AquafiveJuly 1, 2020
The global leader in the pool and wellness equipment business reaches a deal to acquire the Belgium based distributor of pool products.
The purchase price places the equity value of Aquafive at approximately 4.8 million euros, with an immediate payment of 3.3 million euros and three annual deferred payments of 0.5 million euros.
Fluidra, the global leader in the pool and wellness equipment business, has acquired one hundred percent of the capital of the Belgian distributor of pool products Aquafive. Both companies share a longstanding relationship in the past, Aquafive being the exclusive distributor of Zodiac branded products distributing in the Benelux region.
The purchase price places the equity value of Aquafive, and its subsidiary Pentagone, at approximately 4.8 million euros. The price will be settled by an initial payment made today of 3.3 million euros; and three deferred payments of 0.5 million euros each for the next three years. The company will be taken over with a net cash position of approximately 0.1 million euros.
Aquafive is based in Wavre, Belgium, and, through its wholly-owned subsidiary Pentagone, is a distributor of pool products, such as heating, dehumidification and cover equipment for swimming pools, as well as swimming pool cleaning and water treatment products. The company has been distributing equipment for over 25 years and is recognized for their experience by pool professionals in Benelux (Belgium, the Netherlands and Luxembourg).
During the past year, Aquafive generated an annual turnover slightly above 7 million euros, and an EBITDA of approximately 900,000 euros.
"With the purchase of Aquafive we will expand the reach of our unique product portfolio and continue to be an essential distributor to the market, allowing us to provide the best service to our extended customer base” said Bruce Brooks, CEO at Fluidra.
This acquisition will be an important strategic step for Fluidra Commercial Belgium, whose mission is to become the leading supplier to the Belgian swimming pool industry. The company's goal is to provide pool professionals in Belgium with a wide range of equipment covering all projects, from construction to maintenance, while building on existing local structures and the expertise of its employees in the region at Charleroi, Wavre and Temse.