The investment by LDC, part of the Lloyds Banking Group, follows 18 months of increased revenue and profit at Aqualisa under the leadership of CEO David Hollander, ex Dyson MD.
During this time, a three year plan to unlock value in the brand and R&D has been underway with innovative product launches in the digital and electric categories already. Market share has grown across all categories.
The new ownership allows for increased investment in the next phase of Aqualisa's growth. New product development and support for customers will be key drivers of the business plan.
David Hollander comments, ‘This is a vote of confidence in Aqualisa’s future from both LDC and management. It’s the best possible news for customers, colleagues and suppliers. Sankaty and RBS have been very supportive, both financially and with operational expertise over the past three years, consistently showing exceptional understanding of our industry and business goals. Partnering with LDC will allow us to pursue our rapid growth agenda, our obsession with showers and fast-track our ambitions.’
Industry insider Steve Lee has been appointed Non- Executive Chairman. Lee’s experience includes Bristan, the BMA and Methven. ‘I’m impressed with the dynamic management team, their understanding of the category and the iconic name,’ he says. ‘I look forward to adding value to the future of this great British brand.’
Media information: Sarah Beerbohm PR, firstname.lastname@example.org
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