Newport Beach-based Water Pik Technologies Inc. said Wednesday that its shareholders approved a $380 million buyout offer from Coast Acquisition Corp.
Washington, D.C.-based Carlyle Group owns 80% of Coast with France’s Zodiac SA owning the rest.
Water Pik operates two units,a pool products division and a personal healthcare unit, which makes high-tech toothbrushes, shower heads and water filters.
Regulators have approved the sale. Water Pik expects the deal to wrap up on April 12.
Water Pik sold its Laars Heating Systems business to Ambler, Pa.-based Bradford White Corp. for $24.3 million last summer.
The company said in early 2005 that it was launching a strategic review of its operations.
Water Pik posted sales of $80 million in the fourth quarter, up from $78 million a year earlier. Its operating profit was $4.8 million, in line with a year earlier.
