FM Mattsson Mora Group AB (publ) (OM:FMM B) agreed to acquire Hotbath BV for €18.7 million on May 13, 2019. Under the terms of the transaction, €14.2 million will be payable in cash on completion, €3.5 million in shares of FM Mattsson Mora Group, which payment shall be made through set-off against debts comprising €3.5 million and an earn-out which will become payable if EBITDA exceeds certain growth targets for 2019 and 2020. The 2019 earn-out is capped at €1 million. Following the acquisition, Hotbath will operate as a free-standing business unit within FM Mattsson Mora Group. Hotbath BV reported revenue of €20.5 million in 2018. Hot Bath will be led by current Managing Director Marius Visser and receive strategic guidance from the founder Erwin Liesting. Hot Bath will continue its sales development in the Netherlands. The transaction is subject to certain conditions and is expected to be completed by May 14, 2019. Harry Walker and Mark Naughton in the Corporate Finance team of FRP Advisory LLP, Financial Advisory Arm acted as financial advisors to FM Mattsson Mora Group AB. FM Mattsson Mora Group AB (publ) (OM:FMM B) completed the acquisition of Hotbath BV on May 14, 2019.