Sat, 05 Oct 2024 | BUSINESS SALE
The brand of Leicestershire-headquartered bathroom products manufacturer Aqualux, which entered administration and ceased trading earlier this year, has been acquired by Brand K Group.
Hinckley-based Aqaulux Products was founded in 1979 but fell into administration on August 29 2024, with Raj Mittal and Ben Jones of FRP Advisory appointed as joint administrators. The company ceased trading as a result of inflationary pressures and volatile trading conditions in the UK’s home improvement market, but its brand has now been purchased by Brand K Group.
Bedford-based Brand K Group is a supplier of radiators and bathroom equipment to independent merchants and showrooms. Founded in 2008, the company has grown to have operations in Wigan, Leeds, Hull, Tewkesbury, Willenhall and New York. It has annual turnover of over £163 million and employs more than 750 staff.
Alex Norford, Chief Executive of Brand K Group, said: "We are pleased to have acquired another brand with a strong reputation and long industry history. The Aqualux brand enhances our existing showering and bathroom offering and we are proud to be custodians of the business moving forwards."
Harry Walker and Fahim Kassam from Dow Schofield Watts’ Midlands office provided corporate finance support to Brand K Group on the transaction. Harry Walker has previously advised Brand K Group on seven acquisitions.
He commented: "We're once again happy to have advised Alex and the Brand K Group on an acquisition in the KBB sector, this time the brand of Aqualux. In line with our collaborative way of working, we’ve formed a successful partnership with the group over many years now and look forward to many more years helping to grow and develop their business."
Find out more about Aqualux's collapse
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