The news comes from Milan: the private equity operator Investindustrial has signed the definitive agreement for theacquisition of Jupiter Holding I (Jacuzzi Brands), a company which owns a series of spa brands and products for the bathroom and wellness, among which the most famous is Jacuzzi. “We are delighted to welcome Jacuzzi among our high-end brands. Investindustrial has been successful in supporting companies with iconic brands in the interior design sector. We are therefore excited to be able to contribute to the next phase of development of Jacuzzi Brands. We see significant growth potential and will work closely with management to expand the company into international markets and through product innovation,” he commented. Andrea Bonomi, president of the Industrial advisory Board of Investindustrial.
To sell, as stated in an official statement, there are investment funds affiliated with Apollo Global Management, Ares Management Corporation and Clearlake Capital Group, while Nottingham Spirk Design Associates, a product design and innovation company, will partner and co-invest in the company as a minority shareholder. Bob Rowan, CEO of Jacuzzi Brands, said: “I am extremely pleased with Investindustrial's acquisition of Jacuzzi Brands. Their expertise in promoting premium brands and Nottingham Spirk's resources for product innovation are the perfect match to ensure a bright future for our customers and employees."
at the top, Investindustrial has named Charles 'Chuck' Huebner as its new executive chairman of the hot tub company, where Bob Rowan remains CEO. Huebner was the CEO of Dacor, a high-end kitchen appliance company.
Jacuzzi Brands operates under the brands Jacuzzi, Sundance, Dimension One Spas, Hydropool, ThermoSpas and BathWraps and is leader in the European spa market and co-leader in the American market. Jacuzzi was founded in 1956 by an Italian family and the results in 2018 were very positive, recording a turnover of around 500 million dollars. The main European production site is located in Valvasone, in the province of Pordenone
