Business

Co Down bathroom supply firm Aqualla acquired by Swedish group

Aqualla's managing director Steven Allaway with sales director Noel Daly.
Aqualla's managing director Steven Allaway with sales director Noel Daly. Aqualla's managing director Steven Allaway with sales director Noel Daly.

CO Down bathroom supply firm Aqualla has been acquired by Sweden’s FM Mattsson Mora Group.

The takeover comes after the Newtownards based company, which employs 37 people, reported 30 per cent growth in 2020, seeing revenues rise to £7.6 million.

Aqualla said it will continue to operate as a free-standing business unit supported by the FM Mattsson Mora Group, retaining its current management team led by founder Steven Allaway, and sales director, Noel Daly.

The deal also includes the firm’s Adamsez brand.

The company said the acquisition will enable Aqualla to bring new products to the market and bolster its current portfolio through access to in-house design and manufacturing facilities.

Along with a wider range of products on offer in Newtownards, Aqualla will now export its brands into the Nordics and across Europe.

Managing director Steven Allaway said: “When we were approached by the group about joining forces, we were poised for a period of exciting new opportunities with both the Aqualla and Adamsez brands and experiencing rapid expansion.

“We had no plans to sell, but the cultural and strategic fit between the two businesses was clear from day one and we believe there could be no better long-term home for Aqualla and our people.

“We feel that this is a huge step forward for our business,” continued the company founder. “Indicative of our continual endeavour to provide first-class service and quality products to meet the needs of our customer.”

Company sales director Noel Daly, said the development will offer the Co Down team a myriad of opportunities personally and professionally.

“We will be continuing to invest in Aqualla and accelerating our growth plans, including adding more people to our team to support the growth. FM Mattsson Mora Group values parallel our own with a commitment to growth through a customer centric approach and focus on company culture.”

Fredrik Skarp, group chief executive, added: “The acquisition of Aqualla is a very clear and exciting step in our growth strategy and establishes us in the UK and Ireland which is one of the largest bathroom markets in Europe.

“At the same time, we are taking a historic step by expanding our product portfolio beyond taps. I have been extremely impressed by the strength of Aqualla’s customer focus and dedicated employees so am very much looking forward to continuing the journey with them as part of the group.”