Genuit Group Plc (GEN.L), a provider of sustainable water, climate and ventilation solutions, on Monday announced that it has acquired Davidson Holdings Ltd. for a consideration of 49 million pounds on debt-free and cash-free basis.
The transaction is expected to increase the company's earnings per share during the first full year of ownership, with an adjusted operating margin above 20 percent in line with Genuit's medium term target.
The consideration has been fully funded from Genuit's existing debt facilities. Davidson's business will form part of Genuit's Sustainable Building Solutions or SBS Business Unit.
Davidson, a group of three businesses, offers products and solutions to reduce water usage. It has manufacturing sites in Sunderland, Reading and Gillingham.
The brands include Salamander shower and boosting pumps, Cistermiser water saving sanitary solutions, Keraflo cold water tank control valves, and Talon pipe clips and fixings.
The acquired business is expected to deliver full year 2025 revenue of 32.8 million pounds.
Joe Vorih, CEO, Genuit commented that the acquisition will enhance the company's market positions by combining certain product ranges to provide higher value-added solutions to customers.
On the London Stock Exchange, the stock was up 0.74 percent at 341 pence.
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