Aqualla Brassware has been acquired by mixer tap manufacturer FM Mattsson Mora Group, which owns the Damixa, Mora Armatur and Hotbath brands, for an undisclosed sum.
Based in Newtownards, Northern Ireland, Aqualla business grew by more than 30%, delivering revenue of £7.6m, and acquired the Adamsez brand in June 2020.
Aqualla will continue to operate as a free-standing business unit, with its current management team remaining in place, led by founder and managing director, Steven Allaway, and company sales director, Noel Daly.
According to Aqualla, the acquisition will enable the company to bring new products to the market, bolstering its current portfolio through access to in-house design and manufacturing facilities.
It will offer an increased choice to customers in their home market and also give Aqualla the opportunity to export their brands and products to the Nordics and across Europe.
Steven Allaway commented: “When we were approached by the Group about joining forces, we were poised for a period of exciting new opportunities with both the Aqualla and Adamsez brands and experiencing rapid expansion.
“We had no plans to sell, but the cultural and strategic fit between the two businesses was clear from day one and we believe there could be no better long-term home for Aqualla and our people.
“By working with the Group going forward, we are excited to be able to offer new, innovative and unique product ranges to our existing customers, as well as take advantage of the Group’s in-house design and manufacturing capability to further extend our own capabilities.
“We feel that this is a huge step forward for our business, indicative of our continual endeavour to provide first-class service and quality products to meet the needs of our customer.
“We are looking forward to offering some of the best products designed and manufactured in Europe”
Noel Daly added: “By working with the Group going forward we will be able to offer our customers an even wider range of products, including some of the finest available in Europe, and offer our highly valued team myriad opportunities personally and professionally to continue developing and growing Aqualla and Adamsez in GB, North and South of Ireland and beyond.
“We will be continuing to invest in Aqualla and accelerating our growth plans, including adding more people to our team to support the growth.
“FM Mattsson Mora Group values parallel our own with a commitment to growth through a customer centric approach and focus on company culture”
Group CEO of FM Mattsson Mora Group Fredrik Skarp said “The acquisition of Aqualla is a very clear and exciting step in our growth strategy and establishes us in the UK and Ireland which is one of the largest bathroom markets in Europe.
“At the same time, we are taking a historic step by expanding our product portfolio beyond taps.
“I have been extremely impressed by the strength of Aqualla’s customer focus and dedicated employees so am very much looking forward to continuing the journey with them as part of the group.”