Water Pik Inc. closed a deal Monday to change its ownership to an investor group led by New York City-based private equity firm Midocean Partners, CEO Richard Bisson said.
The ownership change came after EG Capital and the Carlyle Group decided to divest their ownership stakes of Water Pik, which makes dental water jets and showerheads. The Midocean-led investor group, which includes private equity firm Vulcan Capital, headed by Microsoft co-founder Paul Allen, now own privately held Water Pik.
The ownership change will benefit Water Pik as it seeks to expand its international sales, Bisson said.
The Carlyle Group couldn't help Water Pik expand international sales? Hardly, it was time to flip the company. "Monetize" sometimes comes via PEU trading.