Zodiac buys PQ
October 20th, 2010
Zodiac Pool Equipment has bought Premium Quality Pool Products Pty Ltd (PQ), the pool chemical company previously reported at splashmagazine.com.au as fighting against debt and supply problems.
The purchase ends Gary Munson’s attempts to keep control of PQ.
Steve Walls, Zodiac Australia Managing Director, says the take-over is a natural extension for Zodiac and will allow it to expand its already successful product offering to the trade. Zodiac acquired all the assets of PQ and retains the lease on the premises, from where the company will continue to operate. Zodiac did not acquire any liability for debt.
The take-over saw the loss of nine jobs at PQ, although the majority of the 30 employees have kept their positions and Munson will remain with the company. Zodiac will be resupplying all PQ products and will not look at changing the branding at least until 2010/2011, due to the amount of work involved in getting new labels approved through the APVMA.
“It’s a logical extension of being a supplier of equipment, as chemicals is a big part of the market,” says Walls. “We’re very much looking forward to it. We’re going to put our own spin on it and change the marketing and make it more successful than it ever has been.”
Walls says the main priority is re-establishing the company’s products in the market and getting over the supply problems previously experienced by PQ.
“By middle of February everything will be back in stock,” he says. “You’ve got to have stock. This business is everything about having stock. And we will get the service going again, and get product to the customers – that’s what it’s all about.” Walls also said that Zodiac continued to have an eye open for further acquisitions.
The purchase ends Gary Munson’s attempts to keep control of PQ.
Steve Walls, Zodiac Australia Managing Director, says the take-over is a natural extension for Zodiac and will allow it to expand its already successful product offering to the trade. Zodiac acquired all the assets of PQ and retains the lease on the premises, from where the company will continue to operate. Zodiac did not acquire any liability for debt.
The take-over saw the loss of nine jobs at PQ, although the majority of the 30 employees have kept their positions and Munson will remain with the company. Zodiac will be resupplying all PQ products and will not look at changing the branding at least until 2010/2011, due to the amount of work involved in getting new labels approved through the APVMA.
“It’s a logical extension of being a supplier of equipment, as chemicals is a big part of the market,” says Walls. “We’re very much looking forward to it. We’re going to put our own spin on it and change the marketing and make it more successful than it ever has been.”
Walls says the main priority is re-establishing the company’s products in the market and getting over the supply problems previously experienced by PQ.
“By middle of February everything will be back in stock,” he says. “You’ve got to have stock. This business is everything about having stock. And we will get the service going again, and get product to the customers – that’s what it’s all about.” Walls also said that Zodiac continued to have an eye open for further acquisitions.
By The Splash Team
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