The owner of Zodiac Pool Solutions SAS, a pool and spa manufacturer operationally headquartered in Vista, has agreed to sell the company to investment funds affiliated with global asset management firm Rhône.
The agreement announced Oct. 25 by seller The Carlyle Group is expected to close soon. Terms were not disclosed.
First registered as a brand in 1909, Zodiac has grown substantially since its 2007 purchase by The Carlyle Group, a private equity, asset management and financial services company based in Washington, D.C.
Among its acquisitions since that time are SAVI, a U.S. pool and spa lighting company; Pool Resources, an Australian pool miner water systems company; and SET, a German maker of swimming pool heating systems. The company has 1,300 employees worldwide and global headquarters in Paris.
Subsidiary Zodiac Pool Systems Inc. sells residential swimming pool and spa products and services.
Rhône was established in 1996. With offices in London and New York, it has investments in diverse companies engaged in business services, chemicals, food, packaging, specialty materials and transportation.