An online retailer of wash basins and bathroom furniture has been sold to the CMO Group, one of the UK’s largest online retailers of building materials.
Whiteholme, an e-commerce company specializing in bathroom basins trading as clickbasin.co.uk, has been acquired for up to £1.25m, including £1m sterling was paid at the end and £250,000 is to be deferred for six months.
Founded in 2010 and based in Preston, clickbasin.co.uk currently offers a range of 320 SKUs including bathroom furniture, bathroom cabinets, wall hung basins, bathroom mirrors and related products such as faucets and waste sets.
The acquisition is part of CMO’s drive to increase its presence in the plumbing market and follows its acquisition of JTM Plumbing last year.
CMO said Clickbasin operates “in an attractive and growing market” and complements its existing products, “expanding CMO’s integrated plumbing supermarket offering which will be launched in the third quarter of this year”.
In the financial year ending March 31, 2021, Whiteholme had sales of £1.87 million and c. £360,000 EBITDA.
Clickbasin, which will be merged with the launch of Plumbingsuperstore later this year, is expected to contribute EBITDA of c. £50,000 to the Group for the remainder of financial year 22 and be accretive in its first full year of ownership.
Dean Murray, CEO of CMO Group, said: “Our strategic goal is to provide our customers with everything they need to build or maintain a home, through a simple, convenient and assisted shopping experience.
“We will achieve this by adding specialized verticals, either organically or through acquisitions, supported by customer-centric technology development.
“Today’s announcement of the acquisition of clickbasin.co.uk fits this model perfectly, taking our vertical plumbing into a new product area. clickbasin.co.uk, along with JTM Plumbing, will merge to form plumbingsuperstore.co.uk which will launch in Q3, providing a platform on which to further penetrate the £800m online plumbing and heating market and using the power of our business model to deliver leading choice and value to our customers. »