Monomoy Capital Partners, a middle-market private investment firm, 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. Together, the companies will offer dealers and customers a full line of hot tubs and swim spas under multiple well-known brands.
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 USA 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.”