New York based Monomoy Capital Partners, a private investment firm, has acquired Michigan based Nordic Hot Tubs to round out their platform of brands which already include Artesian Spas and Marquis Spas which they acquired in 2021. The acquisition of Nordic gives Monomoy an offering in the entry-level/value category of hot tubs.
There is really no surprise here as major consolidation continues to happen in the hot tub industry.
Nordic has always found a nice fit alongside more premium brands on retail showrooms floors especially complementary to luxury brands like Jacuzzi, Caldera, and Hot Spring Spas. The acquisition should give way in many markets to displace these higher end brands with Monomoy’s premium brands of Artesian and Marquis. It will also give existing Artesian and Marquis dealers an entry level line to put on their floors.
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