Nasdaq GlobeNewswire

Fluidra and Zodiac announce merger to create a global leader in the pool industry

Del
  • Businesses are highly complementary with geographical strengths, brand portfolios and product offerings creating expanded growth opportunities and value for customers, shareholders and employees
     
  • With 5,500 employees and a presence in over 45 countries, the new company will be a global leader with sales of €1.3 billion and combined EBITDA of €210 million
     
  • Fluidra will remain listed on the Spanish stock exchange with its global headquarters in Sabadell (Barcelona), Spain and North American headquarters in Vista (San Diego), California
     
  • The merger is expected to close in the first half of 2018

BARCELONA, Spain and SAN DIEGO, Nov. 03, 2017 (GLOBE NEWSWIRE) -- Fluidra S.A. (BME:FDR), a Spanish listed multinational group serving the residential and commercial pool and wellness sector, and Zodiac Pool Solutions ("Zodiac"), a global manufacturer of residential pool equipment and connected pool solutions, have agreed to merge.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/06e7912f-aba7-4fa9-9241-b4d0e8ca968f

The merger is expected to close in the first half of 2018. Fluidra will maintain global headquarters in Sabadell (Barcelona), Spain and North American headquarters in Vista (San Diego), California. Fluidra Executive President Eloi Planes will serve as Executive Chairman of its Board of Directors, while Zodiac CEO Bruce Brooks will serve as the company's CEO.

The combined company will keep Fluidra's name and public listing on the Spanish stock exchange, employ a workforce of 5,500 dedicated pool industry professionals and operate an expansive global footprint stretching across more than 45 countries in North America, Europe, Australia, Asia, South America and Africa, with the US representing its largest market. Sales will total €1.3 billion with combined EBITDA of €210 million, improving margins and cash flow profile.

The merged organization will offer a significantly expanded product portfolio that includes some of the most widely recognized and respected global pool brands, including Zodiac®, Jandy® Pro Series, Polaris®, AstralPool®, Cepex®, Gre® and CTX Professional®. Additionally, with its expanded resources, the new company will be positioned to accelerate innovation to meet market demand for more efficient, customer-focused solutions in growing fields like robotics and the Internet of Things.

Zodiac brings to the merger its strong position in North America and a dedicated focus on residential pool solutions, while Fluidra brings its strength in Europe, Australia, Asia, South America and Africa, plus a product portfolio that includes commercial as well as residential pool products. Combining these complementary geographical strengths and areas of expertise will result in a new organization able to offer innovative solutions on a global basis for the total pool market - from residential to commercial projects.

"By combining Fluidra and Zodiac, we will build a strong and exciting platform from which to better serve our customers, develop user-driven sustainable innovations and create opportunities for our people and our dealers," said Fluidra Executive President Eloi Planes. "This merger will create significant value for all our shareholders."

"This will be a merger between two industry leaders with a shared customer-centered vision, a commitment to innovation and a clear and complementary set of values," said Zodiac CEO Bruce Brooks. "We will have expanded reach into growing global markets and the ability to accelerate product development and better meet our customers' needs worldwide."

The Boards of Directors of Fluidra and Zodiac unanimously support the formation of this new company. In connection with the transaction, Fluidra's founding families have entered into a shareholders' agreement with affiliates of Rhône Capital, current equity holders of Zodiac; these parties will respectively hold 29 percent and 42 percent of the combined company's shares at closing. This stable group of core shareholders is focused on value creation going forward, and has agreed to customary share transfer restrictions. The shareholders of the combined entity will be represented by an enlarged board of directors consisting of 12 members: four independent, four nominated by the founding families and four nominated by Rhône Capital.

The transaction is subject to the approval of Fluidra's shareholders, as well as other customary conditions including merger control clearances and the exemption by the Spanish stock market regulator (CNMV) of Rhône Capital launching a mandatory takeover bid following completion of the merger.

Citigroup is acting as financial advisor to Fluidra and Credit Suisse is acting as financial advisor to Zodiac. Garrigues is acting as legal advisor to Fluidra and Linklaters is acting as legal advisor to Zodiac.

About Fluidra
Fluidra is a Spanish listed multinational group devoted to the pool and wellness sector, with a focus on developing leading products and applications for the commercial and residential pool markets. The company operates via subsidiaries in 45 countries and under the leading brands of AstralPool®, Cepex®, CTX Professional® and Gre®. To learn more about Fluidra, please visit www.fluidra.com.

About Zodiac
Zodiac, a Rhône Capital portfolio company, is a global manufacturer of residential pool equipment and connected pool solutions. The company has a rich heritage of innovation excellence dating back more than 100 years, and markets its product lines under the leading brand names of Zodiac®, Polaris®, Jandy® Pro Series, Nature2®, Caretaker(TM), SAVI®, Grand Effects® and Cover-Pools®. To learn more about Zodiac, please visit www.zodiac.com.

About Rhône Capital
With over 20 years of investing experience, Rhône Capital and its affiliates comprise a global alternative investment management firm with approximately €5 billion in assets under management. The firm focuses its private equity investments in market leading businesses with a pan-European or transatlantic presence and global growth opportunities. Rhône Capital, which is currently investing capital from its fifth private equity fund, has invested in a diversified portfolio of companies including those in the chemical, consumer product, food, industrial packaging, specialty material, business services and transportation sectors.

Fluidra media contact:
(for Europe, Australia,
Asia, LatAm and Africa)

David Monfort
dmonfort@atrevia.com  
+34 689 912 622

Inés Solà
isola@atrevia.com
+34 606 79 13 12

Zodiac media contact:
(for US / Canada)
Julie Wright 
jwright@wrightoncomm.com 
+1 760 419 4664



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Zodiac Pool Solutions, Inc. via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

SEMAFO Mourns Passing of Board Chairman Jean Lamarre23.11.2017 22:01Pressemelding

MONTREAL, Nov. 23, 2017 (GLOBE NEWSWIRE) -- SEMAFO (TSX:SMF) (OMX:SMF) announces with sadness the passing of Mr. Jean Lamarre, Chairman of the Board of Directors of the Corporation, on November 22, 2017 following a short illness. Mr. Lamarre joined the Corporation's Board of Directors in 1997 and was appointed Chairman of the Board in 2000, a position he held until his demise. "Jean made an indelible mark on SEMAFO, both in terms of his corporate governance expertise and his 45 years of experience in Africa," said President and CEO Benoit Desormeaux. "Over his 20-year tenure with SEMAFO, he brought unique insight, business acumen and leadership to the Corporation as it transitioned from an exploration company to a junior gold producer. He did this, always without compromising his values: the integrity of the Corporation, his deep love for Africa and its people, and his priority to SEMAFO's long-term sustainability. On behalf of SEMAFO's Board of Directors, management and employe

Premier to join industry leaders at BDA London forum23.11.2017 21:39Pressemelding

HAMILTON, Bermuda, Nov. 23, 2017 (GLOBE NEWSWIRE) -- Premier David Burt will join more than two-dozen Bermuda executives in a multi-industry forum being held in London next week to showcase the breadth of expertise and advantages offered by the island's global business market. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/78c5ac53-07f7-4dd8-83e0-753ea5b4c80b Organised by the Bermuda Business Development Agency (BDA), the one-day event Tuesday, November 28 at ME London has attracted over 200 registrants. It will feature top regulatory and industry leaders in moderated discussion panels covering re/insurance, captive insurance, insurance-linked securities, asset management, family offices, and trust and private-client business. A networking reception will wrap the event in the evening. "The government supports the Bermuda Business Development Agency in this awareness-raising event that offers such gre

Crown Bioscience and Data Sciences International (DSI) Partner to Advance Metabolic Disease Research Using an Implanted Telemetry Device for Long-Term Blood Glucose Monitoring23.11.2017 14:00Pressemelding

SANTA CLARA, Calif., Nov. 23, 2017 (GLOBE NEWSWIRE) -- Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE: ticker 6554) and a global drug discovery and development services company providing translational platforms to advance oncology, inflammation cardiovascular and metabolic disease research, announces the successful development of an enhanced method for preclinical obesity and type 2 diabetes studies in partnership with Data Sciences International (DSI). Crown Bioscience's clinically relevant models and DSI's HD-XG implantable glucose device combine to create a superior approach to preclinical metabolic disease research. Recently published work in the Journal of Endocrinological Investigation and Nature's Scientific Reports demonstrates the advantages of a new method using DSI's HD-XG implantable glucose device and Crown Bioscience's models of spontaneous and diet-induced diabetes. The HD-XG device allows for continuous, long-term measurement

Euroloan Opens New Market in Spain23.11.2017 11:10Pressemelding

Helsinki, Finland, 2017-11-23 11:10 CET (GLOBE NEWSWIRE) -- According to James Hickson, CEO of Euroloan Group, initiating services in the Spanish market is a key step in the expansion strategy of the Fintech group. “We have seen a growing demand for easy payment solutions in several markets, and the Spanish market in particular offers a massive opportunity for growth with Euroloan’s advanced payment and credit solutions. Merchants and Consumers appreciate our simple, fast and efficient services. It’s all about making their life easier. Consistent with our strategy, we have identified a number of partners to accelerate our market entry approach and expect to be providing our lending and merchant solutions by the end of the 1Q 2018” The Group is now present in five countries in Europe, including Finland, Sweden, Poland, Luxembourg and Spain. “Euroloan aims to open up several additional new markets”, says Tommi Lindfors, Chairman of the Board of Euroloan Group. “Spain is an importan

BDA partners with government to attract cryptocurrency23.11.2017 06:25Pressemelding

HAMILTON, Bermuda, Nov. 23, 2017 (GLOBE NEWSWIRE) -- The Bermuda Business Development Agency (BDA) will take a lead role in an initiative launched by the Bermuda government today to accelerate the establishment and growth of digital currency business on the island. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/457f43b9-d7bb-48f1-83e2-b856b33ebacc At a press conference held by Premier the Hon David Burt and National Security Minister the Hon Wayne Caines, the government announced the formation of a task force comprising two teams to advance Bermuda's regulatory environment as a destination for utility tokens, tokenised securities, cryptocurrencies, and coin offerings. BDA Consultant for Emerging Technologies John Narraway was named as chair of the Blockchain Business Development Working Group, while BDA Board member Lydia Dickens will chair the Blockchain Legal and Regulatory Working Group, of which

VistaJet Partners With Christie's for the Global Tour of The Collection of Peggy and David Rockefeller22.11.2017 11:39Pressemelding

The sale will be the most significant philanthropic auction ever presented LONDON, Nov. 22, 2017 (GLOBE NEWSWIRE) -- VistaJet, the first and only global private aviation company, announces today its worldwide sponsorship of the exhibition and tour of The Collection of Peggy and David Rockefeller, the most significant auction entirely dedicated to raising funds for philanthropic causes.  The sale, consisting of numerous categories, will be conducted by Christie's, the world's leading art business, and will include a highlights exhibition tour in Hong Kong, London, Los Angeles and New York. Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c78fdce7-7651-42a8-a621-14088da2cc86 http://www.globenewswire.com/NewsRoom/AttachmentNg/33af2489-a9a8-4bbe-b5f7-78e4c1f29ca2 http://www.globenewswire.com/NewsRoom/AttachmentNg/a16c2

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom