Rioz, 1 November 2018
ABEO, a world leader in sports and leisure equipment, today announces the acquisition of the entire share capital of Fun Spot Manufacturing LLC, a company based in Georgia, USA, with a strong position in the Sportainment (activities combining sport and entertainment) sector.
Founded over 40 years ago, Fun Spot, vertically integrated, specialises in the design and manufacture and distribution of equipment for amusement parks and particularly trampoline parks: trampolines, Ninja courses, climbing walls and boulders. Fun Spot employs around 180 people and has a strong industrial base comprising 2 production units and a design department based in India, staffed by 48 expert designers who combine their artistic flair with state-of-the-art manufacturing processes. With over 460 parks designed worldwide for a diversified customer base of franchisees and independent owners, Fun Spot is a leading player in the Sportainment sector.
For the current financial year, Fun Spot expects to achieve revenue growth and post revenue of between
USD 40-50 million with an EBITDA margin of over 20%.
This acquisition is fully in line with the 2020 strategic plan combining organic growth with targeted acquisitions and offers both a strong complementary and a combination of product, technical and commercial know-how. Multiple synergies are expected:
- Development of ABEO flagship fun climbing brand Clip'n Climb sales in the US Sportainment market,
- Worldwide marketing of Fun Spot via ABEO's global distribution network,
- Distribution of specific products such as Parkour and Ninja by ABEO subsidiaries.
ABEO Group CEO Olivier Estèves said: “This acquisition is fully in tune with the strategic ambitions we have set ourselves. It is aimed at strengthening ABEO's footprint on the North American continent and at developing our business in Sportainment, a future sector with major growth potential. It is totally in line with the Group's priorities. This structural project for ABEO will allow us to consolidate our target of €300 million revenue by 2020.”
The acquisition is being financed entirely in cash by means of ABEO's existing cash resources and lines of credit.
Fun Spot Manufacturing LLC will be consolidated from 1 November 2018.
- Next releases
19 November 2018 before start of trading H1 2018/19 revenue
13 December 2018 before start of trading H1 2018/19 results and presentation meeting (Paris)
Find out more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted revenue of €187.9 million for the year ended 31 March 2018, 71% of which was generated outside France. At year-end it had 1,600 employees. ABEO is a designer, manufacturer and distributor of sports and leisure equipment. It also provides assistance in implementing projects to professional customers in the following sectors: specialised sports halls and clubs, leisure centres, education, local authorities, construction professionals, etc. ABEO has a unique global offering, and operates in a wide variety of market segments, including gymnastics apparatus and landing mats, team sports equipment, physical education, climbing walls, leisure equipment and changing room fittings. The Group has a portfolio of strong brands which partner sports federations and are featured at major sporting events, including the Olympic Games. ABEO (ISIN code: FR0013185857, ABEO) is listed on Euronext Paris – Compartment B.|
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