Monomoy Capital Partners, a middle-market private investment firm focused on operational value creation, acquired both Artesian Spas and Marquis Hot Tubs and combined them to form a 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.
“Artesian has a stellar brand reputation,” says John Schrenk, CEO for Marquis. “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,” says Lee Mlotek, managing director for Monomoy. “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.