Monomoy Capital Partners, a middle-market private investment firm with over $2.7 billion in assets under management, has purchased Nordic Hot Tubs through its pool and spa platform.
Nordic manufactures hot tubs and related accessories for the residential market in North America and Europe. The deal aims to improve the pool and spa platform’s existing product portfolio by adding a manufacturer of high-density polyethylene (HDPE) hot tubs in category. Monomoy’s pool and spa platform now consists of Artesian Spas, Marquis Hot Tubs and Nordic Hot Tubs.
“We are pleased to partner with a company that shares our goal of producing high-quality products for its customers with industry-best customer service,” states Rick Gallagher, Artesian CEO. “This combined partnership will strengthen our ability to serve our growing customer base with the best product at every price level.”
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC provided legal counsel to Monomoy on the acquisitions. Calder Capital LLC served as financial advisor and Varnum LLP served as legal counsel to Nordic.