Aqualisa buyout deal backed by LDC

Published:  17 September, 2015

Lloyds Development Capital (LDC) has backed the management buyout of shower specialist Aqualisa from RBS and Sankaty Advisors.

The investment by LDC, part of the Lloyds Banking Group, follows 18 months of increased revenue and profit at Aqualisa under the leadership of chief executive officer David Hollander, ex-Dyson managing director.

During this time, a three-year plan to unlock value in the brand and research and development has been underway with product launches in the digital and electric categories already made. Market share has grown across all categories.

The new ownership allows for increased investment in the next phase of Aqualisa's growth, the company says. New product development and support for customers will be key drivers of the business plan.

Mr Hollander said: “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.”

Meanwhile, Steve Lee has been appointed non-executive chairman. Mr Lee’s experience includes time working at Bristan, the BMA and Methven.

“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,” he said.

Sign Up

For the Builders' Merchants News enewsletter.

In the spotlight


Builders Merchants Vacancies – UK Wide

At Arco, we are an industry specific recruitment consultancy, providing sales and managerial staff Nationwide to Merchants, Distributors and Manufacturers of Building Materials within the Construction Sales Sector. Priding ourselves on our unparalleled customer service and hard work, we offer a fresh, innovative and personal approach to recruitment specifically designed to meet our clients’ needs and candidates’ skills.

Guest Blog by Simon Damp

Is DIY a lost art?

As time goes by, the art of do-it-yourself when it comes to activities around the home and garden is fast becoming more and more of a lost art.