CMO has agreed to pay Jason and Angela Mulroy, the Darlington-based founders of JTM, up to £5.7m.
CMO already has a drainagesuperstore site and will now add plumbingsuperstore.co.uk as a domain name.
The acquisition follows a strong first half for CMO and a recent listing on the London Stock Exchange’s alternative investment market (AIM). The CMO Group initial public offering occurred on 8th July 2021 and raised £27m for the business.
CMO generated revenue of £38.2m in the six months to 30th June 2021 (2020 H1: £23.4m), a year-on-year increase of 63%.
Total Tiles, acquired by CMO in January, accounted for £8.8m of the sales revenue. Like-for-like revenue growth was 27%
Profit before tax increased to £500,000 (2020 H1: £700,000 loss).