LDC sells Aquilisa to Fortune Brands

Aquilisa was valued at £130 million in the transaction, which ends LDC seven year investment.

  • The sale of Aqualisa to Fortune Brands will net LDC a near-threefold increase on its original investment
  • The company’s profits have more than doubled since 2019, generating a money multiple return of 4x
  • Aqualisa is a designer, developer and producer of shower products and has been classified as a carbon neutral company

LDC announced on Monday that it has exited its investment in Aqualisa after seven years. Deerfield, Illinois-headquartered Fortune Brands Home & Security has picked up Aqualisa in a deal that values the company at £130 million.

Aqualisa, based in Westerham in Kent, UK, was founded in 1997. It is a designer, developer and producer of shower products. It invented the world’s first digital shower.

LDC is the private equity arm of Lloyds Banking Group and is based in London. It has a portfolio of 90 businesses across the UK investing across sectors including construction and property, financial services, industrials, retail and consumer, financial services, TMT, travel and leisure, and support services. It has pledged to back at least 100 new mid-market companies over the next five years.

“Aqualisa is a great story of a British company at the forefront of product development, with a brand synonymous with premium quality and innovation,” said Rob Powell, partner at LDC. “After a successful seven-year partnership, becoming part of the Fortune Brands family is a perfect outcome and provides a global platform for its continued growth.”

LDC first invested in Aqualisa in 2015 to support its new product development and to aid its international expansion through new partnerships with distributors and customers across Europe. The sale to Fortune Brands represents a near-threefold increase on LDC’s original investment with Aqualisa’s profits more than doubling since 2019, generating a money multiple return of 4x.

“LDC has been an invaluable partner to Aqualisa over the last seven years,” said Mat Norris, CEO of Aqualisa. “We have built a great team and with their support have been able to invest and innovate. We have made great strides through the development of products that are smarter, safer and greener, and we now have a fantastic opportunity to further build on that as we become part of the Fortune Brands group and look to accelerate our growth globally with them. I’d like to thank the team at LDC for their long-term support to our business.”