Shower and taps supplier Norcros has acquired shower enclosures manufacturer Merlyn for a sum of £60 million.
Norcros said the acquisition represented a “strategically and financially compelling transaction”.
Merlyn will be joining the line-up of other Norcros companies including Triton Showers, Vado, Croydex, Abode and Johnson Tiles.
Norcros said the acquisition is consistent with its strategy to enhance its bathroom product portfolio.
Merlyn’s experienced management team will be retained and led by chief executive Charlie Soden.
In the year to March 2017, Merlyn reported revenues of £30.7m and an operating profit of £6.4m.
Nick Kelsall, Norcros Group chief executive, commented: “The acquisition of Merlyn with its premium brands and market-leading positions is an exciting addition to the group, substantially broadening our product offering. Merlyn’s focus on design, new product development and its standard of customer service will significantly enhance the group’s portfolio.
“I look forward to working with Charlie and his team, whose experience and enthusiasm for the business has impressed greatly, as we look to grow and develop the Merlyn business further.”
Michael Hoyne, founder and majority shareholder in Merlyn, said: “I have admired what Nick and his team have achieved at Norcros, growing the business both organically and through its acquisition strategy. I am sure that Charlie and the team will embrace the opportunities that being part of the enlarged Norcros family with its range of channels, products and international breadth will bring, as they look to drive the Merlyn business on to the next level.”