NEW YORK--(BUSINESS WIRE)--Monomoy Capital Partners, a middle-market private investment firm focused on operational value creation, today announced that it has acquired both Artesian Spas (“Artesian”) and Marquis Hot Tubs (“Marquis”) and combined them to form a leading pool and spa wellness platform. Artesian and Marquis will operate under a parent holding company with their respective management teams working in partnership. The combined platform will provide customers with a broad portfolio of outdoor aquatic products and is seeking additional acquisitions in the pool and spa market.
Artesian and Marquis manufacture portable hot tubs, swim spas and related accessories for the residential market in North America and Europe. The combination of the two businesses creates a multi-branded hot tub and swim manufacturer with a broad product portfolio and expansive dealer network. Artesian and Marquis will continue to operate under their respective brands to service growing demand in the home improvement and outdoor living sectors.
Marquis CEO John Schrenk remarked, “Artesian has a stellar brand reputation. We are pleased to be partnering with a company that shares our goal of producing high-quality products with industry-best customer service. Our combined partnership with Monomoy will allow us to continue to scale our two businesses.”
“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.
Monomoy Capital Partners is a private investment firm with over $2.7 billion in assets under management. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing, distribution and consumer product businesses in North America and Europe. Please see our website at www.mcpfunds.com for further information concerning Monomoy and its portfolio companies.
Founded in 1993, Artesian Spas is a family-owned manufacturer of hot tubs and swim spas. Artesian Spas’ founding partners came together with one uniting goal: to provide the best quality hot tubs and spas, the most features, and the greatest range of products. The company offers four lines of hot tubs and swim spas and manufactures products out of its Las Vegas, Nevada headquarters.
Marquis is an employee-owned manufacturer of hot tubs, swim spas and related accessories. Marquis offers creative and innovative designs that provide consumers with the ultimate soaking experience, cost less to operate, and require minimal maintenance. Marquis spas are designed with cutting-edge features for comfort and long-lasting enjoyment. Marquis was founded in 1980 and is headquartered in Independence, Oregon.