CMO Group PLC Acquisition of Clickbasin (6833N)
06 June 2022 - 4:01PM
UK Regulatory
TIDMCMO
RNS Number : 6833N
CMO Group PLC
06 June 2022
CMO Group Plc
("CMO" or "the Group")
Acquisition of online basin specialist, clickbasin.co.uk
CMO Group PLC, the UK's largest online-only retailer of building
materials, today announces the acquisition of Whiteholme Limited, a
specialist bathroom basin e-commerce company which trades as
clickbasin.co.uk.
Founded in 2010 and based in Preston, clickbasin.co.uk currently
has a range of c. 320 SKUs comprising bathroom vanity units,
bathroom cabinets, wall hung basins, bathroom mirrors and
associated products such as taps and waste sets.
clickbasin.co.uk operates in an attractive, growing market and
is complementary to CMO's existing verticals and suite of products,
broadening CMO's integrated plumbing superstore offering which will
be launched in Q3 of this year.
The cash consideration payable is up to GBP1.25m, of which GBP1m
has been paid on completion and GBP0.25m is to be deferred for six
months. In the year ended 31 March 2021, Whistler achieved sales
GBP1.87m and c. GBP0.36m of EBITDA. Clickbasin, which will be
amalgamated into the launch of Plumbingsuperstore later this year,
is expected to contribute EBITDA of c. GBP0.05m to the Group for
the remainder of FY22 and be accretive in its first full year of
ownership.
This acquisition gives a foothold in a substantial potential
market in which the Group is not yet significantly represented.
Dean Murray, CEO of CMO Group, said:
"Our strategic goal is to provide our customers with everything
they need to build or maintain a home, through a simple, convenient
and supported shopping experience. We will achieve this through
adding specialist verticals, either organically or through
acquisition, supported by customer centric technology
development.
"Today's acquisition announcement of clickbasin.co.uk more than
fits that model, taking our plumbing vertical into a new product
area. clickbasin.co.uk, together with JTM Plumbing, will combine to
form plumbingsuperstore.co.uk which will be launched in Q3,
providing a platform on which to further penetrate the cGBP800m
online Plumbing and Heating market and use the power of our
business model to provide leading choice and value to our
customers."
6 June 2022
Enquiries:
CMO Group PLC Via Instinctif
Dean Murray, CEO
Jonathan Lamb, CFO
Liberum Capital Limited (Nominated Tel: +44 20 3100
Adviser & Broker) 2000
Andrew Godber
Lauren Kettle
Cara Murphy
Instinctif Partners
Justine Warren Tel: +44 20 7457
2010
Matthew Smallwood Tel: +44 20 7457
2005
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END
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