RHÔNE TO ACQUIRE ZODIAC AND ITS GLOBAL POOL BUSINESS AND BRANDS

After a record year in 2016, Zodiac's leadership team will continue to drive the company's strong growth in partnership with Rhône

SAN DIEGO - Oct. 25, 2016 - The Carlyle Group has accepted an offer from investment funds affiliated with Rhône to acquire Zodiac Pool Solutions SAS and its global residential pool and spa business, including its family of premium brands and all 1,300 employees worldwide, the companies announced today. Financial terms of the agreement were not disclosed. The transaction, subject to regulatory approvals, is expected to close promptly.

With its global headquarters in Paris, France and operational headquarters in Vista, Calif., Zodiac is a global manufacturer of premium residential pool equipment and automation solutions. The acquisition will include the Zodiac leadership team and its high-profile brand portfolio including Zodiac® Pool, Jandy® Pro Series, Polaris®, iAquaLink®, Cover-Pools®, MagnaPool, Caretaker™, SAVI and Nature.

Rhône, established in 1996, is a global asset management firm with a focus on investments in market leading businesses with a pan-European or transatlantic presence and expansion prospects. Rhône has offices in London and New York and currently holds investments in a diversified portfolio of companies, including investments in the business services, chemicals, consumer products, industrial products, food, packaging, specialty materials and transportation sectors.

Zodiac has established itself as one of the global pool and spa industry’s major players. Over the past three years, Zodiac has grown its premium brands through a strategic focus on its core global in-ground residential swimming pool business and an emphasis on customer-driven technological innovation across its product portfolio. This focus positioned Zodiac well during the pool construction market's recovery.

Recent strategic acquisitions by Zodiac include SAVI, a U.S. pool and spa lighting company, in 2014; Pool Resources, an Australian distributer of pool chemicals; Two10, a South African producer of pool chemicals; MagnaPool, an Australian company specializing in pool mineral water systems; and SET, a German company specializing in heating systems for swimming pools. Pool Resources, Two10, Magnapool and SET were acquired in 2013. Additionally, Cover-Pools, a U.S. manufacturer of automated pool covers, was acquired in 2008.

The Carlyle Group acquired Jandy in 2006 and Zodiac in 2007. The Zodiac brand was first registered in 1909.

"Based on our strong financial performance and growth over the past three years, culminating in a record year in 2016, the timing was right for new investment from a new partner," said Bruce Brooks, Zodiac's CEO since 2011. "We are proud of our company's achievements working with Carlyle, and we are excited about building on our accomplishments with Rhône. Rhône is great partner for Zodiac, and this is excellent news for our employees, customers, vendors and the pool and spa industry. We look forward to building on Zodiac’s heritage of excellence to drive ever greater technological innovation and quality as we work to grow Zodiac's market share across all of its premium brands."

Zodiac Pool Solutions

Zodiac is a global provider of premium equipment and solutions for in-ground residential swimming pools and spas. The company has a rich heritage of innovation excellence dating back more than 100 years.

Zodiac Pool Systems, Inc., a subsidiary of Zodiac Pool Solutions, is a global leader in swimming pool and spa products and services. The company's comprehensive product lines are marketed under the leading brand names of Zodiac, Polaris, Jandy Pro Series, Nature, and Cover-Pools®. Zodiac is the leading provider of premium, innovative pool and spa products and is committed to designing and producing the most energy efficient, earth-friendly pool products and systems available. To learn more about Zodiac, visit www.zodiac.com or call 800-822-7933.

Media Contact:

Julie Wright
(W)right On Communications
jwright@wrightoncomm.com
760/419-4664


Frequently Asked Questions

Who is Rhône?
Rhône, established in 1996, is a global asset management firm with a focus on investments in market leading businesses with a pan-European or transatlantic presence and expansion prospects. Rhône has offices in London and New York and currently holds investments in a diversified portfolio of companies, including investments in the business services, chemicals, consumer products, industrial products, food, packaging, specialty materials and transportation sectors.
Rhône’s investment in Zodiac will fuel the continued growth of our global residential pool business and premium brands. They are a great partner for Zodiac and we’re a great fit with their investment philosophy.

Why was Zodiac sold?
The Carlyle Group acquired Zodiac over 10 years ago. Zodiac has achieved strong growth in our core global pool business and premium brands in recent years, and the time was right for The Carlyle Group to find a buyer for our company.

When will the deal close?
The deal is expected to close promptly after the parties work through the transaction process and regulatory approvals. Because these details are complex, delays are possible.

Why would someone want to buy Zodiac?
Zodiac is in an attractive market and has built a great company. 2016 has been a record year, building on several years of strong financial performance and the efforts of our passionate and committed team.

How will this impact Zodiac vendors, retail partners, servicers and builders?
For all our stakeholders in Zodiac and our brands, it is business as usual. All of Zodiac’s valued industry partners should know that this investment will help the company continue to innovate and provide the highest quality products and services. If you have specific questions or concerns, please contact us at feedback@zodiac.com.

How will this impact Zodiac consumers?
Consumers can continue to count on Zodiac and our premium pool brands to bring them the greatest enjoyment possible from their pools. This includes the heritage of excellence established across the Zodiac® Pool, Jandy® Pro Series, Polaris®, iAquaLink®, Cover-Pools®, CaretakerTM, SAVI and Nature2® family of brands. If you are a consumer with specific questions or concerns, we want to hear from you. Please email us at feedback@zodiac.com.