The management team of SaniNova B.V. will stay in place, Maax said in a statement. The transaction is for an undisclosed amount and is subject to an earn-out provision. As a result of this acquisition, Maax expects to record consolidated sales of about $364.2 million (U.S.) for fiscal 2000-2001.
Maax to acquire SaniNova B.V.
April 1, 2000
Maax has signed an agreement to acquire all shares of SaniNova B.V., a Netherlands-based manufacturer of acrylic sanitary products. SaniNova B.V. designs, manufactures and markets products such as acrylic shower trays, bathtubs, whirlpools and steam cabins, which are sold under the names SaniNova and Aquastyle to plumbing wholesalers, importers and D-I-Y chains.