© Fluidra Electronics Production | February 14, 2020
Fluidra reaches a deal to acquire Fabtronics
Fluidra, a company within the pool and wellness equipment industry, has acquired Australian electronics manufacturer Fabtronics to strengthen its R&D capabilities and to incorporate complete, efficient and cost-effective electronics design and manufacturing solutions.
The purchase price for 80% of the shares was AUD 15 million (EUR 9.28 million), with an implicit price for 100% of AUD 18.75 million (EUR 11.61 million). The agreed takeover also includes a set of earn-outs to take place during the following three calendar years. Fabtronics is based in Melbourne, close to Fluidra’s main manufacturing facility, and includes a team of 45 employees as well as a PCB design and manufacturing plant of over 3,000 square metres. The company features an annual turnover and EBITDA of AUD 18 million (EUR 11.14 million) and AUD 6 million (EUR 3.71 million) respectively. For the past 15 years, Fabtronics has provided research and development support to Fluidra’s Australian business and played a key role in many significant products. “This acquisition strengthens Fluidra’s position worldwide, helping us expand our R&D capabilities and enabling us to accelerate innovation to meet local market needs,” says Bruce Brooks, CEO at Fluidra, in a press release. Fluidra is committed to expanding its portfolio of technologies with acquisitions tailored to growing the business, like Fabtronics, which has been an essential R&D contributor in the region.