Nordic Hot Tubs is Added to Monomoy’s Leading Pool and Spa Platform https://t.co/HTof05o11H pic.twitter.com/bp3LIyhGFy
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Monomoy Kapital Partners is a middle market private investment firm that focuses on operational value creation. Today, announced that it had acquired Nordic Hot Tubs through its pool and spa platform. Now, the platform includes Artesian Spas as well as Marquis Hot Tubs.
Nordic produces hot tubs and accessories for residential markets in North America, Europe and Asia. Nordic will be added to the platform’s product portfolio through the acquisition of the world’s leading manufacturer in high-density polyethylene hot tubs (HDPE) in the value segment.
Rick Gallagher, Artesian CEO, stated that “Nordic has an outstanding brand reputation. We are delighted to partner with a company who shares our vision of creating high-quality products and providing industry-leading customer service. The combination of our two companies will allow us to better serve our customers by providing the highest quality product at all price points.
Monomoy’s Managing Director Lee Mlotek stated that “Nordic complements our existing Marquis and Artesian brands and together the platform can leverage the strengths of both brands to deliver superior products made here in the United States.” “We are thrilled to work with the management teams in scaling their businesses together.
Monomoy received legal counsel from Mintz, Levin Cohn Ferris, Ferris Ferris, Glovsky, Popeo for the acquisitions. Nordic was represented by Varnum and Calder Capital as financial advisors.
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