Quad-C Management, a middle market private equity firm, sold Balboa Water Group (BWG), a Tustin, California-based manufacturer of customized, critical components for the portable spa, jetted bath and other adjacent markets, to AEA Investors.
The terms of the deal were not disclosed.
Created in 2007 when Quad-C partnered with CEO Eric Kownacki and VP of Sales Jeff Christine, BWG offers pumps, blowers, electronic control systems, jets, white goods and accessories to the global leisure water industry. With facilities in California, Denmark, Belgium, China and Australia, the company delivers this set of products to a global customer base.
Kownacki and Christine were executives previously with Polaris Pool Systems, a former Quad-C portfolio company. Under Quad-C’s ownership, the company completed five acquisitions and invested capital in building out a professional management team, enhancing systems, developing new products and expanding outside North America.