The Global Paddling Community

Long-time rafting supplier Avon was sold as part of a package that included the entire Zodiac line. OpenGate Capital, LLC has acquired Zodiac Recreational from Zodiac Marine & Pool, a portfolio company of The Carlyle Group. Terms of the transaction were not disclosed.

Maker of the world-renowned Avon inflatables, Zodiac Recreational is the world's leader in the design, manufacturing and distribution of inflatable and Rigid Inflatable Boats (RIBs). Zodiac offers an extensive range of products including RIBs, recreational tenders, inflatable boats, jet tenders, life rafts, and related boat accessories as well as the branded lines of Bombard and Avon. It is unknown how the acquisition will affect production or distribution for Avon retailers.

The acquisition of Zodiac Recreational included two other business units, stratospheric balloons and multi-layer insulation, both of which serve the aerospace industry. Zodiac Recreational employs 430 people throughout its main operations in France, Tunisia and the in the U.S., as well as its sales offices located in Spain, Italy, Germany, the United Kingdom and Canada.

"Zodiac Recreational joins the OpenGate portfolio, our family of businesses, at an opportune time of disciplined growth and expansion," said Andrew Nikou, OpenGate Capital's founder, managing partner and CEO. "We continue to seek out businesses around the world that can benefit from our operational strategies, and Zodiac Recreational has all the characteristics and challenges that we see as opportunities for growth. We are confident that given the Zodiac brand heritage, extensive dealer network, and continued strong demand for the Company's product range, we can leverage these strengths to create a much stronger and vibrant business than ever before."

The acquisition of Zodiac Recreational represents OpenGate Capital's sixth transaction for the year 2012 including the acquisitions of Getronics LATAM from KPN, "R