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Mon October 18 2021

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CMO adds plumbing e-tailer

29 Sep Online building materials retailer CMO Group has agreed terms for the acquisition of JTM Plumbing, a retailer of first fix plumbing and heating supplies that is also online only.

Roofing Superstore is a CMO retail site
Roofing Superstore is a CMO retail site

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 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).

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