Fluidra : Acquisition of SRS: positive strategic step, limited value accretion
>Further reinforcing its presence in North America - FDR has announced the acquisition of S.R. Smith (SRS), a pool deck equipment manufacturer based in the US for $ 240m (3% of FDR’s market cap, 2.5% of EV) to the private equity group Champlain Capital. SRS sales amounted to $ 120m over the last 12 months (5% of FDR’s L12M sales) and it expects to bring in synergies for FDR of $ 10m in revenues and $ 2.5m in costs by 2024 (after estimated investments of $ 6m). SRS wil...Fluidra is engaged in the manufacture and commercialization of accessories and specific products for swimming pools, irrigation, and water treatment and purification systems.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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