Fluidra buys France's Hydrapro as first-half profit falls 7% to €126M
What's the deal? FluidraDealroom has a profile for this one. Try Dealroom →, the Spanish maker of pool and wellness equipment, has agreed to acquire HydraproDealroom has a profile for this one. Try Dealroom →, a French manufacturer of chemical products for treating pool and spa water. The company, which serves both professional and consumer channels, generates around €30 million in revenue. The deal is subject to customary closing conditions and is expected to complete in January 2027.
What's the endgame? The acquisition strengthens Fluidra's presence in France, one of its strategic markets, and in water treatment — the largest category in the French pool market. That market has an installed base of nearly two million residential pools.
By the numbers: Fluidra reported first-half revenue of €1,258 million, up 2.6% year on year, or 5% excluding currency effects. Net profit fell 7.1% to €126 million, weighed down by higher restructuring, integration, and share-based compensation costs, which more than doubled to €35 million. Adjusted EBITDA rose 2.4% to €321 million.
Why now? Europe drove the quarter, with sales up 8.1% in southern Europe and 3% across the rest of the region, while North American revenue fell 1.6%. The company accelerated in the second quarter after flat sales in the first three months.
The extra costs reflect Fluidra's efficiency plan, which includes closing a research and development centre in France and targets €120 million in savings over five years. A weaker dollar also hit profit; at current exchange rates, earnings fell 3%.
What else? The Hydrapro deal follows the purchase of Riaan Pool Group, signed in early 2026 and set to close in the third quarter. Fluidra confirmed its 2026 guidance, expecting constant-currency sales growth of 3% to 7% and an adjusted EBITDA margin between 23.3% and 24.3%.
"We closed a good first half, growing above the market despite a dynamic macroeconomic environment," said chairman Eloi Planes.
The signal: Fluidra is trading short-term profitability for scale, absorbing restructuring costs while accelerating a string of bolt-on acquisitions. The strategy bets on consolidating fragmented European pool markets to offset softness in North America.
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