Norcros buys Eurobath for £16m

Shower supplier Norcros yesterday said it had snapped up Eurobath International – trading as Vado – in a deal worth £16m. Norcros will pay a cash sum of £11m, plus debt of £0.9m and further payments of up to £4.1m depending on the future performance of Vado. Norcros said that Vado, which posted revenue of £25.6m for the year to December, would add to its earnings immediately. Rothschild advised on the transaction.