Bonomi Group, a prominent player in the valve and faucet sector, is setting its sights on expanding its presence in the North American market.
Following a series of smaller 'bolt-on' acquisitions primarily in Italy, the Brescia-based company is now focusing on a significant consolidation effort in the US. This strategic move aims to double their current US revenue, which stands at approximately 25 million euros.
The group is considering acquiring an existing business with a turnover of around 20 million euros, although a greenfield investment is not off the table. \n\nIn 2023, Bonomi Group achieved a record turnover of 336 million euros and an EBITDA of 95 million euros, marking an exceptional year.
However, the growth rate has slowed in the current year, with a 5% increase in revenue in the first half and an expected 2-3% rise by year-end.
The group's portfolio includes Rbb, Frabo, Valbia, Valpres, and other smaller entities, with recent acquisitions like Savinox in the naval sector. \n\nThe North American market has become increasingly vital, now contributing 20% to the group's revenue.
This growth has helped offset challenges in the German market, which remains significant but is experiencing a slowdown.
Encouraged by their US performance, Bonomi Group is actively seeking an acquisition opportunity, ideally on the East Coast, where they already operate a subsidiary in Charlotte, North Carolina.
The company hopes to announce a successful acquisition by 2025.