REG - CMO Group PLC - Acquisition of Clickbasin

CMOAnnouncement

06/06/2022 07:01

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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 £1.25m, of which £1m has been paid
on completion and £0.25m is to be deferred for six months.  In the year
ended 31 March 2021, Whistler achieved sales £1.87m and c. £0.36m of
EBITDA. Clickbasin, which will be amalgamated into the launch of
Plumbingsuperstore later this year, is expected to contribute EBITDA of c.
£0.05m 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 c£800m 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 Adviser & Broker)      Tel: +44 20 3100 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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