FOR IMMEDIATE RELEASE
Arctic Spas to Purchase MAAX Spas
(Thorsby, Alberta
– May 28, 2008 -- Spa Logic Inc., known under its brand name
"Arctic Spas", has entered into an agreement with an exclusive
and binding letter of intent for the purchase of a significant
portion of the assets and assumption of the warranty liabilities
of MAAX Spas (Arizona) Inc. This will include the production
facilities and the brand names Coleman, Nahanni, Elite, and
California Cooperage.
"Arctic Spas is
pleased to acquire the MAAX spa division as part of our
strategic growth plan," said James Keirstead, VP Marketing.
"Their commitment to quality and customer service fits well with
our corporate philosophy and business history. The acquisition
of these well-established brands will strengthen our presence in
the industry. And since our core business is quality hot tubs,
the various MAAX lines will both complement and supplement our
existing product line-up."
Spa Logic is no
stranger to the process of growing a spa company. In 1997, it
took over failing Blue Falls Manufacturing and within a decade
had built it into one of Canada's fastest growing businesses.
The company's Arctic Spas brand has gained increasing
recognition and acceptance in North America and Europe. Blue
Falls has been recognized for three years as one of Canada's 50
Best Managed Companies and has received a number of other
national and international awards.
“MAAX’s strategic
business plan is to grow its core business – the bathroom sector.
As part of our continuous commitment to our customers, we are
pleased to have identified Spa Logic, an experienced industry
player, to continue to service our existing customers. Spa Logic’s
industry experience should allow it to continue to build on the
solid foundation and reputation established by MAAX and thus grow
the business to new levels” stated Terry Rake, Vice-president and
general manager, Spa division, MAAX /
Paul Golden, President and CEO, MAAX.
"We have no
immediate plans for radical changes," added Keirstead, who will
be heading the new division with partner Brent Macklin. "We
want to keep the Arctic and former MAAX lines separate and
distinct to retain the benefits of their respective name
recognition. We expect to see economies of scale that will be
advantageous to both divisions."
About Spa Logic Inc.
Headquartered in Thorsby, Alberta, with plants in Breton and
Coleman, Alberta and with distributorships in Australia, U.S.A, and
Europe, Spa Logic is one of the top ten North American spa
manufacturers. The company is devoted to producing quality products
to enhance your quality of life. Engineered for the world’s harshest
climates, Arctic and Coyote hot tubs combine sound science and
innovative design to ensure the best in stress relief, relaxation,
and invigorating hydromassage—your choice at the twist of a dial.
www.arcticspas.com
About MAAX
MAAX
is a leading North American manufacturer of award-winning
bathroom products for the residential housing market. The
company is committed to offering its customers distinctive,
stylish and innovative products and the best customer service
practices in the industry. MAAX Corporation is a subsidiary of
Beauceland Corporation, itself a wholly owned subsidiary of MAAX
Holdings, Inc. Visit us at
www.maax.com
