SpaRetailer: Two hot tub giants have united.
What is it like to work with Monomoy? Earlier this year, we completed the acquisitions of Artesian Spas and Marquis and combined them to form a leading pool and spa wellness platform. In an interview with SpaRetailer, the management team shared their experience working with the Monomoy team in a partnership structure that is enabling the next phase of growth and innovation.
Read the full article here (https://sparetailer.com/monomoy-capital-partners-acquires-artesian-spas-marquis/), and dive deeper into the insights the team shared below:
“We wanted to build a stronger company that would go on and do more…We needed more horsepower to help make that happen”
Discussing the Marquis management team’s experience of the sale process, Jim explains how they ultimately chose Monomoy from a final list of three firms. Citing Monomoy’s vision for the company and experience growing manufacturing businesses, Jim underscores how critical it is to select a partner who understands and has experience with your business model or sector. With one of the largest operating teams in the middle market, Monomoy’s operating and investment teams work closely with management teams to bring learnings and best practices from across the portfolio to each individual company.
“We are building more spas now than we were last year,” Silon says. “Even with the supply chain issues, we’ve been able to up our production. The systems that Monomoy put in place are very forward thinking.”
One benefit of working with an experienced, operationally focused firm is the ability to hit the ground running from day one. Completing the acquisition of Artesian in September 2021, the Monomoy team partnered with their team at the manufacturing facility in Las Vegas, Nevada, to optimize their assembly and testing processes. Implementing lean initiative best practices and visual management tools on the production floor helped to deliver a 30% increase in the manufacturing capacity.
The acquisition also gives existing employees opportunities for professional growth that weren’t an option before.
Attracting and retaining the best talent is built into Monomoy’s core values. Across our portfolio, we are committed to ensuring that all employees are empowered to do their best work. Ensuring safe working conditions for employees and implementing engagement and growth programs are fundamental tenets for all our value creation plans.
