LDC exits Aqualisa to Fortune Brands in £130m sale

Leading mid-market private equity firm LDC has exited its seven-year investment in bathroom specialist Aqualisa to Fortune Brands Home & Security, in a transaction that values the company at £130m.

Founded in 1977, Aqualisa is the UK’s leading designer, developer and producer of innovative shower products. The company invented the world’s first digital shower and is known for its commitment to innovation and new product development, particularly in the smart bathroom category.

US-headquartered Fortune Brands is a leading manufacturer of home and security products with a portfolio of over 30 global brands, sales of $7.7bn and facilities around the world. The sale enables Aqualisa to continue scaling its international presence, taking its British designed products to more markets around the world.

LDC first invested in Aqualisa in 2015 to support the company’s new product development, with a particular focus on smart home showers that have personalisation, water- and eco-friendly benefits, and, latterly, to expand internationally through new partnerships with distributors and customers across Europe.

Over the same period, Aqualisa also invested in its own ESG programme. This has included analysing energy consumption monthly and running employee awareness campaigns to help reduce consumption. As a result, Aqualisa now diverts 100% of waste from landfill and has been classified as carbon neutral.

The sale to Fortune Brands values Aqualisa at £130m – a near-threefold increase since LDC’s original investment, with profits more than doubling since 2019 – generating a money multiple return of 4x.

Source: Press Release