Fluidra’s shareholders today approved the proposed merger of Fluidra with Zodiac, and the addition of four new members to the Fluidra Board of Directors
The combination of Fluidra’s leading positions in Europe, Asia and Australia with Zodiac’s strong presence in the U.S., sets the foundation for the new Fluidra, a global leader in pool equipment and solutions, with one of the industry’s most comprehensive product portfolios
With 5,500 employees and a presence in more than 45 countries, the new Fluidra will have combined sales of €1.3 billion and combined EBITDA of €210 million
Fluidra’s shareholders approved the proposed merger with Zodiac Pool Solutions at the shareholders’ meeting held this morning in Sabadell (Barcelona). In addition, the shareholders also approved the appointment of the four new Directors nominated by Rhône Capital, as the majority shareholder of Zodiac: Bruce Brooks, Steven Langman, Sebastien Mazella di Bosco and José Manuel Vargas. The new Directors will join Fluidra’s Board with Fluidra’s four independent Directors (Juan Ignacio Acha-Orbea, Jordi Constans, Gabriel López and Richard J. Cathcart) and the four Directors nominated by the founding families (Eloi Planes, Bernat Garrigós, Óscar Serra, Bernardo Corbera).
The merger of Fluidra and Zodiac will represent a key milestone for both companies, as well as the pool equipment industry. The companies are highly complementary in terms of geographical strengths, brand portfolios and product offerings, while the combination will enable the new Fluidra to compete globally, including a leading position in the U.S. market, the largest pool market worldwide. The closing of the merger, as well as the appointment of the new Directors, remain subject to regulatory and other approvals, and the companies continue at this stage to operate as independent businesses.
Eloi Planes, Fluidra’s Executive Chairman said: “The shareholders’ approval is another important milestone in the process of creating the new Fluidra. Zodiac and Fluidra together will compete on a global scale, benefitting from our leading product portfolio and broad geographic footprint. I’m excited about the opportunity to create more value for our shareholders, for our customers and for our employees.”
The combined entity, once operational, will keep Fluidra’s name and public listing on the Spanish stock exchange, employ a workforce of 5,500 dedicated pool industry professionals and operate globally with a presence in more than 45 countries. The new Fluidra will be a global leader, with combined sales of €1.3 billion and combined EBITDA of €210 million.