Monomoy Capital Partners, a middle-market private investment firm, has acquired Artesian Spas and Marquis Hot Tubs. Following the deal, the acquired firms will be combined to form a pool and spa wellness platform.
Artesian and Marquis are both manufacturers of portable hot tubs, swim spas and related accessories. Going forward, the two firms will operate under a parent holding company while both management teams and brands will be retained in the partnership. The deal creates a multi-branded hot tub and swim manufacturer.
“Artesian and Marquis have both experienced exceptional demand and growth over the past two years,” added Monomoy managing director Lee Mlotek. “The new holding company will leverage the strengths of each brand to deliver superior products made in the U.S.A. to the growing outdoor wellness market. We are excited to partner with the management teams as they scale their businesses together, and we look forward to bringing additional pool and spa brands to the platform in the future.”
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. provided legal counsel to Monomoy on the acquisitions. Piper Sandler & Co. served as financial advisor to Artesian and Husch Blackwell LLP served as legal counsel to Artesian. Zachary Scott & Co. served as financial advisor to Marquis and Tonkon Torp LLP served as legal counsel to Marquis.