CHICAGO--(BUSINESS WIRE)--Homewerks Worldwide, LLC (Homewerks), a leading home improvement innovator in the kitchen, bathroom, and plumbing categories, announced today the acquisition of the Shower and Specialty Plumbing business from Waxman Consumer Products Group, Inc. (Waxman), a long-standing distributor in the home improvement and plumbing market.
The acquisition includes a broad range of products including showerheads, shower accessories, faucets, valves, and packaged plumbing repair. The products are supported by a strong intellectual property portfolio comprised of 22 patents and 19 trademarks for brands such as PlumbCraft® plumbing repair, Body Moods® showerhead, and AquaLife® faucets.
Peter Berkman, Chief Executive Officer and founder of Homewerks Worldwide, LLC commented, “We are pleased to announce the acquisition of the Shower and Specialty Plumbing business from Waxman. This transaction represents another step forward for our company and enhances our position as a one-stop solution for our plumbing and HVAC retail partners."
This transaction represents the first acquisition completed by Homewerks since an affiliate of H.I.G. Capital ("H.I.G.") completed a growth investment in Homewerks in May 2021. H.I.G. is a leading global alternative investment firm with $48 billion of equity capital under management.
H.I.G. partnered with Homewerks to facilitate the company’s growth initiatives, including accelerated new product development and strategic M&A within the highly fragmented home improvement industry.
Waxman’s product catalog and product development roadmaps, as well as the talented associates who will transition to the new team will allow Homewerks to build on the product launch momentum of recent years and further accelerate growth.
Mr. Berkman went on to say, “Homewerks and Waxman both have deep roots in the home improvement industry and have been working with customers and vendors over the past several weeks to ensure a seamless transition. I am proud of the team here at Homewerks and our colleagues at Waxman who have worked tirelessly to complete this acquisition. I also appreciate the cooperation of our customers and vendors during this time of transition. We are looking forward to the exciting next steps in the Homewerks journey.”
About Homewerks Worldwide, LLC
Homewerks Worldwide, LLC develops, sources, and markets bathroom, kitchen, and plumbing products for home and commercial use under the Homewerks™, Tosca®, Aqua Vista®, Home2O™, LDR®, and Exquisite® brand names as well as retailer private brands across the rough plumbing, fashion plumbing, HVAC, and bath accessory categories. Since its formation in 2006, Homewerks has shown consistent sales growth fueled by a proven track record of bringing innovative, efficient, and high quality product solutions to homes. Headquartered in Lake Bluff, Illinois, Homewerks operates out of two distribution centers with strategically located personnel across the globe. For more information about the company and its products, visit Homewerks.com, HWCares.com, and LDRInd.com.
