National Ventures has agreed to but The Zodiac Groups Leisure division, Sevylor, after a long and successful relationship between the two companies. National Ventures has long been manufacturing the inflatable water sports equipment for the Sevylor brand name for the past few years.
Zodiac said in a press release that the sale “is consistent with The Zodiac Groups strategy of refocusing on business with a high technological content.”
The sale will close in August of 2003, and will affect all 75 of the Sevylor employees, but CEO Conny Klimenko is expected to stay on to run the operation.
Sevylor sells about $35 million in inflatable kayaks, beach accessories and water sports games annually.
