A Leeds-headquartered provider of sustainable water, climate, and ventilation solutions, with an annual revenue of £561.3 million, has expanded its sustainable building portfolio through a £49 million acquisition.
Genuit Group, one of the UK’s largest designers, manufacturers and suppliers for the built environment, has acquired Davidson Holdings on a debt-free, cash-free basis, fully funded through its existing debt facilities.
The deal brings several established plumbing and heating brands into the Genuit portfolio, including Salamander Pumps, Cistermiser, Talon, and Keraflo.
Davidson comprises three businesses with manufacturing sites in Sunderland, Reading, and Gillingham.
Focused on the UK’s residential and commercial repair, maintenance, and improvement (RMI) markets, it offers water-efficient products that support Genuit’s Sustainable Solutions for Growth strategy – addressing the growing need for climate resilience in the built environment.
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The business generated £30.8 million in revenue in 2024, expected to rise to £32.8 million in 2025.
The acquisition is expected to be earnings-per-share (EPS) accretive in its first full year, with an adjusted operating margin above 20 per cent, in line with Genuit’s medium-term targets.
Return on invested capital (ROIC) is forecast to exceed the group’s weighted average cost of capital (WACC) in year two, excluding potential synergies.
It will join Genuit’s Sustainable Building Solutions (SBS) division post-completion.
Genuit CEO Joe Vorih described the acquisition as “an excellent fit”.
“We see opportunities to grow Davidson’s products by utilising our existing strong market positions, as well as combining certain product ranges to provide higher value-added solutions to customers,” he said.
“Additionally, by deploying the lean techniques of the Genuit Business System (GBS), and our procurement scale, we expect to deliver efficiency improvements in the near future.”
The move follows Genuit’s £55.6 million acquisition of Monodraught, a High Wycombe-based commercial ventilation specialist, earlier this month.
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