Some exciting news from across the Tasman, Australian Bathroom Concepts has recieved substantial inward investment as a result of the innovative Drybase Product System developed with New Zealand based Enterpenuer; Murray Goodhue. Showerco, a newly formed public company has acquired ABC including an exclusive license to leverage the Drybase shower system.
This capital injection will enable Showerco to push Drybase into market throughout Australia. Showerco is a publicly listed company and will be on a fast track growth path over the next three years toward a potential listing on the ASX.
The team at Locus Research are proud to be involved with the development and congratulate the new team at Showerco.
The Directors of Australian Bathroom Concepts Pty Ltd (ABC) are pleased to announce the acquisition of ABC by Showerco Corporation Limited. The new Directors of Showerco Corporation Limited (Showerco) offer broad expertise and add significant depth to the foundations already laid by ABC. Showerco Corporation Limited, is a public company, and as such will be managed under the appropriate corporations laws and Governance requirements. The change in company structure has been initiated to enable a substantial re-capitalisation of the core business. The immediate impact will be an ability to increase stock levels and improve our payment profile.
A brief introduction to the Showerco Board of Directors:
Mr Peter Vial - Chairman Peter was Managing Director of Country Road Limited; Co-founder of National Rental Corporation specializing in computer technology rental; Chairman of Elwood Jeans Pty Ltd
Mr Peter Gill - Director Director of Gill Property Pty Ltd; Former Director of National Rental Corporation; further Directorships with numerous charitable organizations
Mr Andrew Goodhue - Director Founding partner of ABC; Managing Director of Showerco Corporation Limited.
The wealth of experience, combined with a desire to continue to bring innovation to the building industry has delighted all staff, who welcome the change and are anticipating a very busy 2010. In the coming weeks we will communicate progressive changes to Showerco Corporation Limited, including new technological advancements to the infrastructure and service, product and stock enhancements.
