The iconic company embarks on a new phase of product development,
innovation and expansion
NEW YORK–(BUSINESS WIRE)–An investment subsidiary of Investindustrial VI L.P.
(“Investindustrial”) has entered into a definitive agreement to acquire
Jupiter Holding I Corp. (“Jacuzzi Brands” or “the Company”), owner of
several spa and bath products brands, among them Jacuzzi®, from
investment funds affiliated with each of Apollo Global Management, LLC,
Ares Management Corporation, and Clearlake Capital Group, L.P.
Investindustrial has invited Nottingham Spirk Design Associates, Inc.
(“Nottingham Spirk”) to be a business innovation and product design
partner and to co-invest in the Company as a minority shareholder.
Terms of the transaction have not been disclosed. The transaction is
subject to customary regulatory approval and is expected to close in the
first quarter of 2019.
Jacuzzi Brands is a global manufacturer of premium spas, swim spas,
whirlpool, soaker and walk-in bathtubs and related bathroom products and
accessories. The Company believes that ‘when we feel good, we live a
better life.’ The Company operates under multiple brands, including
Jacuzzi®, Sundance®, Dimension One Spas®, Hydropool®, ThermoSpas® and
BathWraps®. The Company’s flagship brand, Jacuzzi®, is the most
recognized in the world for spa and hydrotherapy bathing.
Jacuzzi Brands (www.jacuzzi.com),
founded in 1956 by an Italian family, is the clear European market
leader and is the co-leader in the U.S. spa sector. The Company
generated revenues of approximately $500 million in fiscal year 2018,
operates 8 facilities across North America, Europe and South America
with over one million sq. ft. of manufacturing space and has its main
European manufacturing facility in northeastern Italy.
Investindustrial has experience in the high end of the home products
segment through its investments in Flos, B&B Italia and Louis Poulsen.
Jacuzzi Brands will have access to Investindustrial’s relationships,
including world class designers, to accelerate the Company’s growth
through innovation, product development and R&D. Investindustrial will
support each of the Company’s brands to increase awareness and dealer
Andrea C. Bonomi, Investindustrial’s Chairman of the Industrial
Advisory Board, said, “We are delighted to welcome Jacuzzi to join
our portfolio of investments in premium brands. Investindustrial has
enjoyed success in supporting businesses with iconic brands operating in
the home design sector. Jacuzzi Brands is a company with Italian
heritage and is a globally recognized brand with a quality management
team. We are excited about the opportunity to contribute to Jacuzzi
Brands’ next phase of development. We see significant untapped potential
and will work closely with management to grow the business through
product innovation and an expansion of the Company’s footprint.”
Bob Rowan, CEO of Jacuzzi Brands, said, “I am extremely happy
about the acquisition of Jacuzzi Brands by Investindustrial. Their
expertise in growing premium brands, combined with the product
development resources of Nottingham Spirk, makes this a perfect match to
ensure a bright future for our valued customers and dedicated employees.”
Investindustrial has designated Charles “Chuck” Huebner as the incoming
Executive Chairman of Jacuzzi Brands. Most recently, Huebner was CEO
of Dacor, Inc., which designs, manufactures and markets a full range of
premium kitchen appliances. Huebner commented, “Investindustrial’s
success in supporting management teams and building premium brands will
be crucial in consolidating our presence in North America and Europe and
expanding into new markets; Nottingham Spirk will help the Company
develop innovative new products that best meet consumer needs. Our new
ownership will provide significant resources to invest behind our dealer
partners with new marketing programs.”
Investindustrial is a leading European group of independently managed
investment, holding and advisory companies with €6.8 billion ($7.8
billion) of raised fund capital, which provides commercial solutions and
capital to mid-market companies. Its mission is to actively contribute
to the development of the companies in which it invests, by creating
growth opportunities and offering global solutions through an
entrepreneurial vision. Investindustrial has a history of more than 28
years of successfully partnering with premium brands such as Aston
Martin and Ducati and leading global home design businesses such as B&B
Italia, Flos and Louis Poulsen.
Additional information is available at www.investindustrial.com.
About Nottingham Spirk
Nottingham Spirk is a highly successful business innovation and product
design firm, which has developed hundreds of products that have
generated over $50 billion in sales and more than 1,200 patents for
companies around the globe during the past 47 years. Nottingham Spirk
will support Jacuzzi Brands with new product development, co-invest in
the transaction and serve on the Board.
Additional information is available at www.nottinghamspirk.com.
Investindustrial Advisors Limited is registered in England with its
registered address at 16 Palace Street, London SW1E 5JD and company
number 01316019. Investindustrial Advisors Limited is authorized and
regulated by the United Kingdom’s Financial Conduct Authority as an
Alternative Investment Fund Manager (Financial Services Register number:
For further information, please contact:
One PR (on behalf of Investindustrial for U.S. financial press)
Tel.: +1 310 437 2454
Maitland (on behalf of Investindustrial for
European financial press)
Tel.: + 44
Principal & Head of Investor Relations
Tel.: +44 (0)207 664 2138