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Norcros PLC - Cheshire, England-based supplier of bathroom and kitchen products in the UK, Ireland and South Africa - Buys Norway’s Fibo Holding AS from FSN Capital for up to NOK618 million, around £45 million. Norcros will finance the purchase from its existing £130 million revolving credit facility. Oslo-based Fibo is a supplier of waterproof, decorative wall panels. ‘Wall panels are easy to install, durable and sustainable, and are an increasingly attractive alternative to tiles and other wall coverings. The acquisition of Fibo Group aligns with the company’s strategy to acquire and grow capital-light, scalable businesses operating in high-growth product segments and is consistent with our medium-term strategic targets,’ Norcros says. Fibo recorded earnings before interest, tax, depreciation and amortisation of £7.3 million in 2024 on net sales of £63 million. ‘The business has traded strongly through 2025, with year-to-date results showing meaningful revenue and profit growth on the prior year,’ Norcros adds. Fibo Chief Executive Officer Ander Carlson will join Norcros, which will pay up to an additional £3.5 million as part of a long-term incentive and retentions scheme for Carlson and other key Fibo personnel. Current stock price: 298.00 pence, up 8.4% in London on Tuesday 12-month change: up 27% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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