Acquisition: Strix Group plc
Strix Group Plc, the AIM quoted global leader in the design, manufacture and supply of kettle safety controls, has entered into a conditional agreement to acquire LAICA S.p.A (LAICA). The proposed acquisition is subject to regulatory approval.
LAICA is based in Vicenza, Italy and has been operating for over 40 years. The business has developed from a small domestic appliances business (predominately kitchen scales in the earlier years) in Italy, into an internationally renowned water treatment and small appliances group.
The acquisition will expand Strix's water category, enhance its presence in the health and wellness market and provide some consolidation of the water treatment range, driving efficiencies and providing a comprehensive portfolio of products for the enlarged group.
Initial consideration at completion of approximately €19.6 million, comprising approximately €11.6 million in cash and €8.0 million in Strix ordinary shares, with up to a further €12.0 million payable in cash subject to certain conditions being met.
Crowe's role and team
“The team at Crowe was an integral part of the successful acquisition of LAICA and diligently managing the complexities of their operations in Italy, Spain, Taiwan and China. The team delivered efficient and proactive support, advice and commitment throughout the transaction. These deals mark another important step in Strix’s global strategy - and we are impressed with Crowe’s ability to support our growth aspirations globally.”
- Mark Bartlett, Chief Executive Officer, Strix Group plc
Client quote
Mark Bartlett, Chief Executive Officer, Strix Group plc
