Online building products merchant CMO Group PLC has increased the breadth of its portfolio with the acquisition of clickbasin.co.uk.
This latest acquisition provides an entry into the UK’s sanitaryware market, and complements CMO’s recent acquisition of specialist online plumbers’ merchant, JTM Plumbing, which was completed in October 2021.
Preston-based clickbasin.co.uk was founded in 2010 and operates an online-only model, offering a range comprising 320 SKUs including bathrooms vanity units, bathroom cabinets, wall hung basins, bathrooms mirrors and other accessories such as taps and waste sets. Together with JTM Plumbing, the business will, in time, be marketed under the brand PlumbingSuperstore.co.uk.
Dean Murray, CEO of CMO, 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. Our acquisition announcement of clickbasin.co.uk more than fits that model, taking our plumbing vertical into a new product area.
“Clickbasin and JTM Plumbing will combine to form the soon to be launched plumbingsuperstore.co.uk, providing a platform on which to further penetrate the £800m online plumbing and heating market and use the power of our business model to provide leading choice and value to our customers.”
The acquisition follows another successful year for CMO Group PLC, which recently announced its results for the year ending 2021, showing revenue up by 46% to £76.3m and adjusted EBITDA up by 42% to £3.7m, year-on-year. CMO has also expanded its market share by 11%, as sales continue to increase across all of the company’s eight online superstores which include Door Superstore, Roofing Superstore, Drainage Superstore, Insulation Superstore and CMO Trade.