Sauna360, a global market leader within design, development and production of traditional and infrared sauna solutions as well as steam solutions, today announced the ownership change to Masco Corporation, a global leader in the design, manufacture and distribution of branded home improvement and building products. Masco Corporation is listed on The New York Stock Exchange.
Sauna360, headquartered in Finland, has a leading position in the global sauna market driven by its unique offering of integrated sauna solutions as well as manufacturing of hiqh-quality components, allowing the company to pursue growth opportunities globally by catering to the increased focus on personal wellbeing and health.
The acquisition strengthens Masco Corporation’s capabilities within the wellness segment and represents an important step in Watkin Wellness’, a wholly-owned subsidiary of Masco Corporation and the world’s leading manufacturer of hot tubs and aquatic fitness systems, continued efforts in promoting wellness to consumers who live active lifestyles and are health conscious. The acquisition of Sauna360 marks Watkin Wellness’ entry into the sauna segment which has experienced significant growth in North America in recent years.
ABG Sundal Collier acted as exclusive financial advisor to the owners of Sauna360 including arranging a broad structured divestment process targeting global strategic and financial buyers. The terms of the transaction are undisclosed, and closing is subject to customary merger filling.
