Australian and New Zealand regulators have approved the Fluidra and Zodiac merger.
In November 2017, Zodiac and Fluidra reached agreement to merge their pool equipment businesses globally, including in Australia and New Zealand.
Australian Competition & Consumer Commission Commissioner Roger Featherston says the ACCC will not oppose the proposed acquisition of Fluidra by Piscine Luxembourg Holdings 2 S.a.r.l (Zodiac). This follows a review process including a call for submissions.
Zodiac and Fluidra are global companies supplying residential swimming pool equipment in Australia. Combined, they would have a significant Australian market share in some products such as pool pumps, filters, water treatment, cleaners and automation systems.
However, the ACCC considered that remaining competitors would provide sufficient competitive constraint following the merger.
“Any deal that combines two of the largest suppliers in an industry requires close scrutiny from the ACCC. We spoke to a range of customers and other industry participants and most of them believed that several strong competitors remained,” says Featherston.
“A combined Zodiac and Fluidra would continue to face competition from remaining global players, who have a full range of products available in Australia and are able to expand. The ACCC also found that there are other local competitors and specialist manufacturers in particular pool equipment segments.”
In New Zealand
Meanwhile, the Commerce Commission of New Zealand has cleared Rhone Capital LLC to acquire up to 100 per cent of the shares in, or the assets of, Fluidra S.A.
Rhone is a New York-based private equity firm that owns a number of entities, including the Zodiac group of companies (Zodiac). Fluidra supplies a range of pool equipment primarily under the brand name AstralPool through New Zealand-based distributor, Aqua Clear Products Limited.