Houlihan Lokey Advises Investindustrial

Houlihan Lokey is pleased to announce the successful placement of a senior secured credit facility to support an investment subsidiary of Investindustrial VI L.P. (Investindustrial) in its acquisition of Jupiter Holding I Corp., (Jacuzzi Brands). Proceeds from an ABL revolving credit facility and senior secured term loan were used to finance the acquisition, provide funding for strategic initiatives, and pay related fees and expenses. The transaction closed on February 25, 2019.

Investindustrial is a leading European group of independently managed investment, holding, and advisory companies with €6.8 billion ($7.8 billion) of raised fund capital, which provides commercial solutions and capital to mid-market companies. Its mission is to actively contribute to the development of the companies in which it invests, by creating growth opportunities and offering global solutions through an entrepreneurial vision.

Jacuzzi Brands, headquartered in Chino Hills, California, is a global manufacturer of premium spas, swim spas, whirlpool, soaker, walk-in bathtubs, and related bathroom products and accessories. The company operates under multiple brands, including Jacuzzi®, Sundance®, Dimension One Spas®, Hydropool®, ThermoSpas®, and BathWraps®. The company's flagship brand, Jacuzzi®, is the most recognized in the world for spa and hydrotherapy bathing.

Jacuzzi Brands, founded in 1956 by an Italian family, is the clear European market leader and is the co-leader in the U.S. spa sector. The company generated revenues of approximately $500 million in fiscal year 2018, operates eight facilities across North America, Europe, and South America with over one million square feet of manufacturing space and has its main European manufacturing facility in northeastern Italy.

Investindustrial has more than 28 years of experience in the high end of the home products segment through its investments in Flos, B&B Italia, and Louis Poulsen. Jacuzzi Brands will have access to Investindustrial's relationships, including world-class designers, to accelerate the company's growth through innovation, product development, and R&D. Investindustrial will support each of the company's brands to increase awareness and dealer leads.

Houlihan Lokey served as financial advisor to Investindustrial, delivering and negotiating a range of viable financing options to support the company and sponsor's primary objectives, including securing the financing necessary to support the acquisition at favorable pricing and terms and creating operating flexibility to support Jacuzzi Brands' strategic objectives.