Founded in 2010 and based in Preston, clickbasin.co.uk currently has a range of 320 SKUs comprising bathroom vanity units, bathroom cabinets, wall-hung basins, bathroom mirrors and associated products, such as taps and waste sets.
CMO said the group operates in what is reportedly a growing market and is “complementary” to CMO’s existing suite of products. It added that the acquisition will broaden CMO’s integrated plumbing superstore offering, which will be launched in Q3 of this year.
While the cash consideration payable for the acquisition is up to £1.25m, £1m has been paid on completion and £0.25m is to be deferred for six months.
Clickbasin, which will be amalgamated into the launch of Plumbingsuperstore later this year, is expected to contribute EBITDA of £0.05m to the group for the remainder of FY22.
Dean Murray, CEO of CMO Group, said: “Our strategic goal is to provide our customers with everything they need to build or maintain a home, through a simple, convenient and supported shopping experience. We will achieve this through adding specialist verticals, either organically or through acquisition, supported by customer centric technology development.
“Today’s acquisition announcement of clickbasin.co.uk more than fits that model, taking our plumbing vertical into a new product area. clickbasin.co.uk, together with JTM Plumbing, will combine to form plumbingsuperstore.co.uk which will be launched in Q3, providing a platform on which to further penetrate the c£800m online Plumbing and Heating market and use the power of our business model to provide leading choice and value to our customers.”