Spain’s Fluidra SA and residential pool equipment manufacturer Zodiac Pool Solutions have agreed to merge.
The combined company will retain Fluidra’s name and remain listed on the Spanish stock exchange. It will employ 5500 people and operate across more than 45 countries. Sales will total €1.3 billion with combined EBITDA of €210 million.
Fluidra will maintain global headquarters in Sabadell, outside Barcelona, in Spain with its 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.
Zodiac, a Rhône Capital portfolio company, brings its strong position in North America and a dedicated focus on residential pool solutions to the merger, while Fluidra brings its strength in Europe, Australia, Asia, South America and Africa, as well as a product portfolio of commercial and residential pool products including pumps and filters.
“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 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. The transaction is subject to the approval of Fluidra’s shareholders, as well as other customary conditions.
The merger is expected to close in the first half of 2018.
