Bathroom Brands Group has acquired Showerwall and its assets for an undisclosed sum, after its parent company, International Decorative Surfaces (IDS), recently fell into administration.
Bathroom Brands acquired Showerwall from FRP Advisory, who have been appointed as the administrators of IDS. The surface company first filed a notice of intent to appoint administrators earlier this month. Following the news, FRP Advisory confirmed they were preparing to sell the business’ assets.
Following what it describes as “a brief and comprehensive process”, Bathroom Brands says it reached a final agreement with FRP Advisory to acquire the business yesterday, on September 26.
As well as Showerwall’s intellectual property and stock, Bathroom Brands’ acquisition also includes Showerwall’s head office and production facility in Stoke-on-Trent. In addition, 19 employees in production, sales and marketing for Showerwall have also been absorbed into Bathroom Brands Group.
Following the acquisition Showerwall will now join the bathroom giant’s wide portfolio of other brands, which includes Crosswater, Burlington, Britton and Clearwater Interiors.
Bathroom Brands has confirmed that it intends to run Showerwall as a division of its own group from today, which will continue to operate from its facility in Stoke-on-Trent.
Stephen Ewer, CEO of Bathroom Brands said he was delighted to welcome Showerwall to the Bathroom Brands Group portfolio. He continued: “Showerwall has a great team with so many similarities in culture and aspirations, their experience and continuity to the Showerwall brand are very welcome in the Group. A growing and enviable brand with great products within a growing sector of the market will only add to our strength for the future.”
Alastair Massey, joint administrator and partner at FRP Advisory added that he was “very pleased to finalise this sale of assets and see the Showerwall team and business find a new home with a group that shares a common vision”.