Leicester corporate finance expert advises on £15m European deal

A Leicester corporate finance specialist has advised Swedish-based FM Mattsson Mora Group, a supplier of kitchen and bathroom taps in the Scandinavian market, on its £15.3m acquisition of Netherlands-headquartered Hot Bath.

The team was led by Harry Walker of Leicester-based FRP Advisory and his colleague in the south-west Mark Naughton.

Hot Bath is a market-leading supplier of kitchen and bathroom taps and shower systems to specialist outlets primarily in the Netherlands. In 2018, the business delivered revenues of £17.75m and employs 37 people.

Its products are manufactured in Italy and through its Italian sister company, Hot Bath Srl, Hot Bath manages its supply chain and delivers sales to international markets such as New Zealand and Israel. Hot Bath Srl will also be acquired as part of the deal, which is expected to complete on 14 May.

Fredrik Skarp, chief exeutive of FM Mattsson Mora Group AB, said: “Hot Bath is an excellent strategic fit with our current geographic footprint and product portfolio. We have been highly impressed by its dynamic culture and are excited by the opportunities presented.”

Harry Walker, corporate finance director at FRP in Leicester, added: “It has been a pleasure working with Fredrik and the team at FM Mattsson Mora Group on such an important deal for the Group. The successful completion of this multi-jurisdictional transaction, which involved working with advisers across four countries, also demonstrates the strength of the advisory community here in the East Midlands and showcases our ability to advise on the international stage.”