OpenGate Capital, LLC, a private investment company, has announced the signing of an agreement with Zodiac Marine & Pool - a company owned by the Carlyle Group - on the acquisition of its marine sectors, Zodiac Plaisance.The transaction, whose terms were not disclosed, is expected to close within 90 days, subject to compliance with regulatory obligations.Zodiac Marine & Pool decided to withdraw from Zodiac Plaisance in order to focus on military activities, professional maintenance and water / pool equipment.Zodiac Plaisance is a world leader in the design, manufacture and marketing of inflatable pleasure boats and RIBs (RIBs). The first inflatable boat Zodiac was invented by the mid-1930s, and the brand was popularized in the 1950s by Jacques-Yves Cousteau, who was faithful to the Zodiac boats for expeditions around the world. Zodiac is now the brand which enjoys the highest reputation in the boating industry, thanks to an innovative product range, including semi-rigid schedules, inflatable boats, life rafts, and boat accessories. Zodiac is also Plaisance Industry Area, particularly through its activities stratospheric balloons and multi-layer insulation ('MLI') for satellites, which are part of the transaction.
"After handing curb the activity of this iconic brand, we look forward to this planned sale to good parents" for his part said Mr Yves Dominioni, CEO of Zodiac Marine & Pool.
Julien Lagrèze (OpenGate Capital) concludes meanwhile "the continued advancement of Zodiac is so important to the modernization and rationalization of its manufacturing and distribution as the skills and commitment of its staff."
Zodiac Plaisance operates through three brands: Zodiac, Bombard (named after the solo sailor, Alain Bombard), and Avon, whose products are distributed through a network of exclusive distributors in Europe and the United States, and by importers for other key markets.Zodiac Plaisance employs 430 people in its main locations in France, Tunisia and the United States. The company is positioned as the fourth French manufacturer of pleasure boats, with a 2010 turnover of 59 million euros, according to the Rank ActuNautique.Com.
(French Source : www.actunautique.com )
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