Press release -
Watkins Wellness to Acquire Sauna360 Group
Hanko, Finland, July 31, 2023 – Sauna360 Group, a leading global manufacturer of sauna solutions, is pleased to announce that Nordic Mezzanine Fund II has entered into an agreement for Sauna360 Group to be acquired by the parent company of Watkins Wellness, a leader in hot tubs and aquatic fitness systems.
Sauna360’s portfolio of products includes traditional, infrared, and wood-burning saunas as well as steam showers and rooms sold primarily for residential use under the Tylö®, Helo®, Kastor®, Finnleo®, and Amerec® brands. Its acquisition adds a brand-new, complementary product category of saunas and steam showers to the Watkins Wellness business. This strategic decision will drive continued growth of Sauna360’s portfolio through access to Watkins Wellness’ expansive and established specialty dealer network that spans more than 70 countries. As part of the acquisition, Sauna360 will continue to operate under its company name and with the same commitment to quality, customer service and excellence.
"I am very pleased for Sauna360 to become part of Watkins Wellness. Sauna360’s business has grown in recent years, and becoming part of Watkins Wellness will further strengthen our capability and ambition to be a leading sauna player. The dealer distribution strategy, common focus on wellness and similar company cultures makes this a true strategic fit,” said Pekka Lettijeff, President & CEO of Sauna360 Group.
Watkins Wellness is a leading manufacturer of hot tubs and aquatic fitness systems. Their portfolio of brands includes Hot Spring® Spas, Caldera® Spas, Freeflow® Spas, Fantasy® Spas, and Endless Pools® Fitness Systems. The company’s growing portfolio of well-being products for at-home use provides multiple pathways to wellness. Its mission—to help people feel good and live well—aligns closely with Sauna360’s mission to help people live better through wellness experiences for a modern lifestyle.
Watkins Wellness President Vijaikrishna (VJ) Teenarsipur expressed enthusiasm about the acquisition. “We are thrilled to welcome Sauna360 to our organization and to expand our portfolio of industry-leading products aimed at promoting wellness and helping our customers feel good and live well!” said Teenarsipur. “Sauna360 brings a wealth of industry knowledge and expertise to our business. We look forward to leveraging the synergies between our businesses, which will allow us to better serve our dealer partners, consumers and, ultimately, the growing wellness market.”
Stay connected and informed about the latest updates and insights on the new chapter ahead! Follow our corporate account @Sauna360 as well as each of our brand accounts: @tyloglobal, @helosaunaglobal, @finnleosauna and @amerec_steam.
Please note, the transaction is expected to close in the third quarter, subject to regulatory approval.
For media inquiries or further information, please contact:
Pekka Lettijeff
President & Chief Executive Officer
pekka.lettijeff@sauna360.com
Mobile +358 40 8412309
Topics
The global group Sauna360 has several strong sauna brands in the portfolio and can be found on all continents for residential and commercial sauna projects. The company is a complete partner by providing high-quality sauna experiences with traditional sauna, steam, and infrared warmth. With a passion for sauna and wellness, solid traditions in craftsmanship, and profound knowledge, Sauna360 is redefining the sauna scene by always creating top-quality sauna products made to be a vital part of healthy living.
