Baker McKenzie advised Fluidra, a global leader in pool and wellness equipment and connected solutions, on its envisaged acquisition of 100 percent of Meranus Group, a leading distributor of swimming pool equipment in Germany, for a purchase price of approximately EUR 30 million on a cash and debt free basis. With this transaction, Fluidra will enhance its leading position in the German market and offer a more comprehensive product portfolio to a wider customer base.
The transaction is subject to competition clearance and other customary closing conditions and is expected to complete in the first quarter of 2023.
"This acquisition will enable our client to reinforce its multi-product strategy and bolster their existing distribution infrastructure in Germany. The transaction is expected to generate significant synergies for our client and for the benefit of customers, suppliers as well as employees," commented Silke Gantzckow, lead of the transaction.
Founded more than 40 years ago, Meranus Group is a recognized swimming pool equipment distributor in Germany, comprising of Meranus Haan GmbH, Meranus Lauchhammer GmbH, as well as Aquacontrol GmbH, a manufacturer of swimming pool dosing and control technology. Its expected revenues for the year ending 31 December 2022 are over EUR 25 million.
Fluidra, a multinational group listed on the Spanish Stock Exchange, is the global leader in the pool and wellness industry. Founded in 1969, Fluidra has long-standing experience in developing innovative products and services in the global residential and commercial pool market. Fluidra operates in more than 45 countries with more than 7,000 skilled employees, more than 135 sales branches and over 35 production centers around the world. This global platform enables Fluidra to distribute a great variety of products and devices adapting to the peculiarities of each region, pool and customer.
Baker McKenzie's Corporate/M&A team regularly advises on domestic and international transactions. Most recently, Baker McKenzie advised, among others, Magna on the acquisition of Veoneer's Active Safety Business, MicroVision on the acquisition (asset deal) of the business of Hamburg based Ibeo Automotive Systems, Trane Technologies on the acquisition of AL-KO Air Technology, Pacoma on the sale to L&P, Deutsche Beteiligungs AG (DBAG) on its investment in vhf Group, VINCI Energies S.A. on the acquisition of parts of Kontron AG, AURELIUS on the acquisition of AGFA Offset Solutions and of Footasylum from JD Sports, FUNKE Digital on the acquisition of Baseplus DIGITAL MEDIA GmbH, Knorr-Bremse AG on the sale of its stake in Haldex AB to SAF-Holland SE, Siemens on the sale of its Commercial Vehicles business to Meritor, Kerry Group plc on the acquisition of c-LEcta, Celanese on the acquisition of DuPont's Mobility & Materials business and Sika AG on the acquisition of the MBCC Group.
Legal advisor to Fluidra:
Baker McKenzie
Lead:
Corporate/M&A: Silke Gantzckow (partner, Frankfurt), Ulrich Weidemann (counsel, Frankfurt), Kathrin Weber (senior associate, Frankfurt)
Team:
Tax: Thomas Gierath (partner, Munich), Viktoria Ritter (associate, Munich)
Commercial & Trade: Joachim Fröhlich (counsel, Munich), Johannes Teichmann (partner, Frankfurt)
IT: Holger Lutz (partner, Frankfurt), Tobias Born (senior associate, Frankfurt)
IP: Michael Fammler (partner, Frankfurt), Lena Weber (associate, Frankfurt)
Employment: Thomas Seidensticker (senior associate, Munich)
Real Estate: Niklas Wielandt (partner, Frankfurt), Nadine Uhrner (associate, Frankfurt)
Merger Control: Nicolas Kredel (partner, Duesseldorf), Christian Burholt (partner, Berlin), Katrin Kurz (associate, Berlin), Ricarda Brandhorst (Associate, Dusseldorf)
Antitrust: Andres Traugott (partner, Vienna) and Nina Lenhard (associate, Vienna)