Leading Hot Tub Manufacturer Nordic Products Acquired by NY-Based Monomoy Capital Partners, LP

Grand Rapids, MI – Calder Capital, LLC is pleased to announce that it served as the exclusive financial advisor to Nordic Hot Tubs (“Nordic” or the “Company”) in its sale to New York, NY-based Monomoy Capital Partners (“Monomoy”). 

Headquartered in Grand Rapids, Michigan, Nordic is a manufacturer of high-quality therapeutic hot tubs for residential markets in North America and Europe. The Company was founded in 1995 and excels under the “affordable luxury” tagline using its high-density polyethylene (HDPE) hot tub shells. HDPE is the perfect material that provides durability while being attractive and environmentally friendly. Maurizio Vozza and Barbara Sisung acquired Nordic from its founder in 2013, with Mr. Vozza assuming the President role.  

Monomoy Capital Partners is a middle-market private investment firm focused on operational value creation. In 2021, Monomoy formed a leading pool and spa wellness platform with the acquisitions of Artesian Spas and Marquis Hot Tubs. Nordic will operate under a parent holding company with its management team working in partnership. The combined platform will provide customers with a broad portfolio of outdoor aquatic products and is seeking additional acquisitions in the pool and spa market. 

 “Monomoy is the ideal partner that we were looking for, and this partnership will provide the resources and scale that will allow Nordic to continue to deliver the highest level of product quality to our customers,” said Maurizio Vozza. 

The Nordic shareholders selected Calder Capital to serve as their exclusive financial advisor/investment banker in the transaction. “We’ve known Max Friar and Calder Capital for many years. The Calder team ran a comprehensive process and is clearly an expert in helping owners like Barb and myself through a once-in-a-lifetime transaction like this. We are very pleased with the transaction outcome and Calder’s guidance throughout the process,” stated Maurizio Vozza. 

Matt Baas, Calder Capital Associate, commented, “Nordic is a leading hot tub manufacturer that attracted investor interest for several reasons, including its reputation for product quality and innovation; longstanding and growing relationships with respective dealers; and a strong financial profile. Nordic’s growth is a testament to Maurizio’s stewardship and the talented management team he assembled. We are honored to have advised Nordic on this transaction with Monomoy, and we look forward to following the Company’s continued future growth.” 

Calder’s Max Friar, Matthew Baas, and Garrett Monroe led the transaction. 

Varnum LLP served as legal counsel to Nordic. Mintz, Levin, Cohn, Ferris, Glovsky provided legal counsel to Monomoy on the acquisition. 

About Monomoy 

Monomoy Capital Partners is a private investment firm with over $2.7 billion in assets under management. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing, distribution, and consumer product businesses in North America and Europe. Please see our website at www.mcpfunds.com for further information concerning Monomoy and its portfolio companies. 

 About Calder Capital, LLC 

Calder Capital, LLC is a lower middle market investment bank providing mergers and acquisitions advisory services to business owners, entrepreneurs, family offices, and investors across the United States. Our dedicated team of professionals combines extensive industry experience, technological innovation, negotiation savvy, and key relationships to exhibit exceptional execution. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations. Please see our website at www.caldergr.com for further information concerning Calder and its current opportunities. 

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