Manufacturing firm Genuit has agreed a £49m acquisition for Davidson Holdings on a debt-free and cash-free basis.

Davidson comprises brands in the plumbing and heating sectors including Salamander Pumps, Cistermiser, Talon and Keraflo.

Genuit, which provides piping systems for the built environment, confirmed the consideration had been fully funded from its existing debt facilities.

The group said the acquisition would increase the breadth of its portfolio sold through the merchant channel to plumbing and heating engineers and commercial contractors, and that Davidson’s portfolio of products and solutions to reduce water usage were “consistent” with Genuit’s “sustainable solutions for growth” strategy.

The total consideration of £49m for Davidson is equivalent to 8.5 times the company’s level of earnings, based on the year to April 2025.

Genuit CEO, Joe Vorih, said: “We are delighted to welcome our new colleagues to Genuit. Davidson is an excellent fit with the existing businesses within SBS, adding to our portfolio of strong brands alongside Polypipe, Manthorpe and Terrain.

“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.

“Additionally, by deploying the lean techniques of GBS, and our procurement scale, we expect to deliver efficiency improvements in the near future. This transaction follows our recent acquisition of Monodraught and demonstrates the strength of our M&A pipeline.”

---