Jetta Corporation has been acquired by Longwater Opportunities, an operationally focused private equity firm with offices in Dallas, TX and Fargo, ND.
Based in Oklahoma City, Jetta Corporation is a leading manufacturer of acrylic bathtubs, with its headquarters and manufacturing facility located in Edmond, Oklahoma, a suburb of Oklahoma City. The Company was founded in 1981 and manufactures a full range of bathtubs, including Freestanding, Skirted, Drop-In, Undermount and Walk-In.
Jetta was among the only bathtub manufacturers in the U.S. that continued to meet production schedules and prompt delivery expectations through COVID and consequently, the Company gained significant market share in 2020 and 2021 as distributors looked to partner with a reliable quality manufacturer. Jetta was owned by a consortium of forty-three investors, managed by two Officers (President and CFO), two Vice Presidents and a Board of Directors.
The Board had set goals for the future sale of the company and with successful strategic and operational initiatives implemented in the last five years, Jetta met the Board’s goals and the Company engaged ClearRidge to represent Jetta in the sale. With an exhaustive process to prepare Jetta for a sale, identify and approach potential acquirers, the ClearRidge team managed the sale process, due diligence and closing. The transaction was closed by Managing Directors of ClearRidge, as registered representatives of M&A Securities Group, Inc., member FINRA/SiPC, an unaffiliated entity.
Terms of the transaction are not disclosed.
ClearRidge was founded in 2008 to assist business owners make better strategic decisions; to provide the owners of midsized private companies with an outsourced team of industry-leading professionals. Leveraging decades of experience successfully completing complex transactions, ClearRidge clients benefit from discreet, professional and effective representation in the sale of their private company, acquisition, restructuring or capital sourcing.