The Carlyle Group has accepted an offer from investment funds affiliated with Rhône to acquire Zodiac Pool Solutions SAS and its global residential pool and spa business.
The transaction, which will include the company’s family of products and all 1300 employees worldwide, is subject to regulatory approvals and is expected to close promptly.
“Based on our strong financial performance and growth over the past three years, culminating in a record year in 2016, the timing was right for new investment form a new partner,” says Bruce Brooks, Zodiac’s CEO since 2011.
“This is great news for Zodiac, our employees, customers, and the pool and spa industry as a whole. It validates the industry’s prospects for continued strong growth and the investment fuels Zodiac’s continued growth building on our core brands and bringing in new innovative products to the global market. Canada will be a key component to our continued growth.”
Rhône, established in 1996, is a global asset management firm with a focus on investments in businesses with a pan-European or transatlantic presence and expansion prospects. The company has offices located in London, England and New York, N.Y., and currently holds investments in a diversified portfolio of companies.
The Carlyle Group acquired Jandy in 2006 and Zodiac in 2007. Financial terms of the agreement were not disclosed.
