Our M&A and private equity team advised on the disposal of Abode Home Products Limited, a wholesaler of kitchen taps, sinks and bathroom products, to Norcros PLC.
Abode is a leading niche designer and distributor of high quality taps and sinks. Owned by Swiss-based Croneta SA and managing director Darren Holliday, Abode has a strong UK market position in both branded and own-label segments.
Abode will join Norcros, a leading supplier of branded showers, taps, bathroom accessories, tiles and adhesives.
What RSM did
Under the terms of the deal, Norcros has acquired 100% of Abode for an initial cash consideration of £3.9m plus a deferred consideration of £0.9m. The RSM team led the transaction on behalf of the vendors from start to finish, negotiating all aspects of the deal terms.
RSM’s strategic advice and hands on approach allowed us to find the right home for our business, whilst achieving the objectives of the shareholders. We commend their hard work and dedication in making this transaction possible and praise their ability to get the deal over the line.
Darren Holliday, Director, Abode Home Products Limited