Jacuzzi Group Worldwide has announced the acquisition of ThermoSpas . The terms of the deal were not disclosed.
“I am personally thrilled to enter this new chapter ... under the ownership of Jacuzzi Group Worldwide,” said Andy Tournas, ThermoSpas’ president. “Their expertise and resources will enable ThermoSpas to provide outstanding service to our customer base.”
Tournas will continue his leadership role under the new ownership. The spa manufacturer also will operate independently of Jacuzzi and Sundance and will maintain production of its product line.
Founded in 1983, Wallingford, Conn.-based ThermoSpas initially had a dealer base, but turned to consumer-direct sales in 1995. In February, the firm filed for Chapter 11 bankruptcy protection.
However, its recent financial challenges didn’t deter Jacuzzi officials from the purchase.
“ThermoSpas’ ability to generate interest in the hot tub category combined with a cutting-edge system of managing leads will prove to be a significant benefit to our network of Jacuzzi and Sundance dealers and our corporation,” said Bob Rowan, president of Jacuzzi North America, in a press release. “Additionally, ThermoSpas’ reputation for innovative, great quality products makes them a great fit with our current business.”
Founded in 1925, Chino Hills, Calif.-based Jacuzzi began as a pump manufacturer and today produces a wide product range including hot tubs, bathtubs, walk in bathtubs, showers and sinks.
