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MidOcean Partners acquires Water Pik

Private equity firm MidOcean Partners has acquired, along with Vulcan Capital and other investors, Water Pik, a marketer and supplier of branded health and wellness products.

 
Water Pik has become the market leader in both its oral health and replacement showerhead business segments. Water Pik’s oral health business offers a complete line of products, including its line of water flossers, a clinically proven sonic toothbrush and a full line of professional dental products. Water Pik’s replacement showerhead business leverages its technology across a broad array of platforms, including EcoFlow (water conservation) and EasySelect (adjustable in-handle water pressure and spray selection).
 
Water Pik has established a diverse customer base that provides over 50,000 distribution points.
 
"MidOcean has followed the success of Water Pik for a number of years, and we are very excited to be partnering with a company that is truly an innovative leader within the health and wellness categories it serves," says Robert Sharp, managing director at MidOcean. "Additionally, CEO Richard Bisson and his team have an impressive record of growing the business into the market leader it is today. We look forward to working with this talented team in continuing to serve Water Pik’s loyal customers."
 
Concurrent with the investment by MidOcean and its investor group, Richard Bisson will remain chief executive of the company and a significant investor, along with the rest of the company’s senior management.
 
Bisson says: "The company is entering an exciting stage of its continued market penetration and growth story. A robust product portfolio and pipeline, an enhanced consumer and professional focused marketing strategy, increased distribution and customer service, all of which have resulted in success with our retail customers. We are excited to work with our new partners, whose strong consumer products expertise and financial resources will benefit the business going forward."
 
Water Pik was acquired from an affiliate of EG Capital Group and Zodiac Marine & Pool, a Carlyle Group portfolio company.
 
Kirkland & Ellis acted as legal advisor to the MidOcean group and Credit Suisse, GE Capital and Macquarie Bank arranged the financing for the transaction. Harris Williams & Co acted as exclusive financial advisor and Boies Schiller & Flexner acted as legal advisor to Water Pik.

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