Business led by CEO David Hollander with investment from LDC
Aqualisa has undergone a management buyout from RBA and Sankaty Advisors, backed by private equity group LDC.
It follows 18 months of increased revenue and profit at Aqualisa, under the guidance of its CEO David Hollander, who prior to joining the company was managing director at Dyson.
The business growth has been part of a three-year plan to “unlock value in the brand” , including product launches in digital and electrical categories. However, Aqualisa reports market share has grown across all categories.
According to the company, the change in ownership will allow for increased investment in the Aqualisa brand, new product development and customer support.
David Hollander commented on the management buyout: “This is a vote of confidence in Aqualisa’s future from both LDC and management. It’s the best possible news for customers, colleagues and suppliers. Sankaty and RBS have been very supportive, both financially and with operational expertise over the past three years, consistently showing a strong understanding of our industry and business goals. Partnering with LDC will allow us to pursue an even more rapid growth agenda along with our obsession with showers and fast-track our ambitions in the UK.”
In addition, Steve Lee has been appointed as non-executive chairman, bringing his experience of the industry, which includes CEO at Methven and prior to that chairman of Bristan.
Steve Lee explained why he has joined the company: “‘I’m impressed with the dynamic management team, their understanding of the category and the iconic name”. “I look forward to adding value to the future of this great British brand.”