Masco Corporation completed the acquisition of Sauna360 Group Oy from Nordic Mezzanine II fund managed by Nordic Mezzanine Limited.
September 29, 2023
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Masco Corporation (NYSE:MAS) entered into an agreement to acquire Sauna360 Group Oy from Nordic Mezzanine II fund, managed by Nordic Mezzanine Limited on July 21, 2023. The purchase price consideration, net of cash acquired for an estimated approximately ?130 million. The transaction is subject to closing adjustments and regulatory approval. The transaction is expected to close in the third quarter. ABG Sundal Collier Holding ASA (OB:ABG) acted as exclusive financial advisor to Nordic Mezzanine. Hannes Snellman Attorneys Ltd. acted as legal advisor to Masco Corporation.
Masco Corporation (NYSE:MAS) completed the acquisition of Sauna360 Group Oy from Nordic Mezzanine II fund managed by Nordic Mezzanine Limited in the third quarter of 2023. The consideration of approximately ?120 million, includes net of cash.
Masco Corporation is one of the world's leading manufacturers of home improvement products. Net sales break down by family of products as follows:
- plumbing equipment (60.8%): plumbing, sink, bath and shower systems (Delta, Brizo, Peerless, Hansgrohe, Axor, Kraus, Easy Drain, Ginger, Newport Brass, Brasstech, Waltec, Bristan ans Heritage brand names), acrylic bathtubs, shower enclosures and shower trays (Delta, Peerless and Mirolin), spa and exercise pool systems (Hot Spring, Caldera, Freeflow Spas, Endless Pool, Tylo and Finnleo) and brass/copper and composite plumbing components (Brasscraft, Plumbshop and Master Plumber);
- architectural decoration products (39.2%): architectural coatings products (paints, primers, special paints, stains and waterproof coatings sold under the Behr, Kilz, Whizz and Elder & Jenks brands), furniture for door and window, do-it-yourself furniture and equipment, glass shower doors, wall plates, hooks and suspension accessories, etc. (Liberty, Brainerd and Franklin Brass).
At the end of 2023, the group had 42 production sites located primarily in North America (30).
Net sales are distributed geographically as follows: North America (80.1%) and Europe (19.9%).