International deal heralds new horizons for Aqualux
The UK’s leading designer, manufacturer and distributor of bath screens and shower enclosures, Aqualux, has announced its acquisition by Swiss Group AFG Arbonia-Forster-Holdings AG.
Aqualux will now sit alongside other premium brands including Miele kitchens and Kermi showers as part of the rapidly expanding international group.
The acquisition looks set to provide substantial investment and development opportunities for Aqualux in the UK, Europe and the Far East. Aqualux will continue to operate in the market independently, with its existing management team, as part of AFG’s Heating Technology and Sanitary Equipment division.
Managing director James Cadman said: “This is great news for the Aqualux brand as well as for staff and customers. It’s a testament to the passion and sheer hard work that has gone into reaching the top spot in the UK. There is a clear synergy between our business and AFG’s portfolio of brands, so this is a good strategic fit.
“We already have a strong market position in the UK and with new investment and an international route to market, the future’s bright. Not only will we be able to bring forward our planned expansion into Asia but there’s also a huge opportunity in the European markets for an affordable, quality brand.”
Dr Edgar Oehler, chairman and CEO of AFG, added: “This is a genuine win-win situation. Aqualux, with its outstanding range of quality products, will considerably strengthen AFG’s International position in sanitary equipment markets. Meanwhile AFG will open up new opportunities for Aqualux to achieve even more rapid growth and success.”
Managing director of the Heating Technology and Sanitary Equipment division for AFG, Knut Bartsch commented: “The acquisition of Aqualux is a boost for our division and its broad range of products will complement and enhance our showering offer. Aqualux has a growing reputation for dedicated customer service and quality products, so it will play a big part in the future growth of AFG.”
With net sales of approx. £520 million in 2006, AFG is one of Europe’s leading providers of bathroom, kitchen and specialist engineering products, primarily within Germany, Switzerland and Eastern Europe. Aqualux will form an essential component of the Heating Technology and Sanitary Equipment Division, retaining commercial independence and existing management.
The deal is the result of three years’ unbridled growth by Aqualux, following a management buy-out after its parent company, the BHD Group, went into administration. This impressive track record and the mutual benefits on offer for Aqualux and AFG, were fundamental to the acquisition.