Rhône Capital seeks to acquire Fluidra
Commerce Commission New Zealand (CCNZ) has received a clearance application from New York-based private equity firm Rhône Capital LLC (Rhône), to acquire up to 100% of the shares or assets of Fluidra S.A.
Rhône owns a number of entities, including the Zodiac group of companies. In New Zealand, Zodiac imports and distributes equipment and manufactures a range of residential pool covers locally.
Fluidra has no manufacturing presence in New Zealand and supplies equipment (primarily under the AustralPool brand) through NZ-based distributor Aqua Clear Products.
According to the CCNZ website, when considering a proposed merger, the commission “must determine whether any competition that would be lost with the merger would be substantial”. It advises that clearance will only be given if the commission is satisfied that the merger is unlikely to substantially lessen competition.
A public version of the clearance application is available on CCNZ’s Clearances Register here and a fact sheet outlining how the assessment is conducted can be found here.
A decision is due by 5 April 2018.
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