UK-based Bathroom Brands Group has successfully acquired Showerwall, a leading surface solution company, following the collapse of its parent company, International Decorative Surfaces (IDS). The acquisition was finalised for an undisclosed amount after IDS entered administration earlier this month.
Photo: Bathroom Brands.
The deal was brokered by FRP Advisory, the appointed administrators for IDS. After IDS filed a notice of intent to appoint administrators, FRP quickly moved to sell the company's assets. Bathroom Brands reached an agreement with FRP on September 26, marking the official transfer of Showerwall to its new ownership.
Included in the acquisition are Showerwall's intellectual property, stock, head office, and production facility in Stoke-on-Trent. Additionally, 19 employees from Showerwall's production, sales, and marketing teams will transition to Bathroom Brands Group, ensuring continuity for the brand.
Showerwall will now become part of Bathroom Brands' extensive portfolio, which includes established names like Crosswater, Burlington, Britton, and Clearwater Interiors. The company has confirmed that Showerwall will continue to operate as a distinct division, maintaining its operations from the Stoke-on-Trent facility.
Source: www.kbbreview.com