Patriarch Funds Acquire Oasis Brand Name, Intellectual Property and Other Assets of Columbus-Based Water Cooler Manufacturer
COLUMBUS, Ohio, Aug. 30 /PRNewswire/ -- Patriarch Partners, LLC ("Patriarch") announced today the acquisition by its affiliated funds of certain assets of Oasis Corporation, including its operating subsidiaries in Mexico, Ireland & Poland. Patriarch is a New York- and North Carolina-based investment firm managing over $4.5 billion in assets.
Patriarch will provide capital resources to rebuild the 95-year-old company's profitability and leadership in the water cooler business. The Patriarch funds will operate this investment as Tri Palm International. Tri Palm will continue to market and distribute its products under the prestigious OASIS brand name.
"We have chosen to acquire the OASIS brand name based on its near 100-year
"With this transaction, we intend to help management rebuild and restore the company to profitability while driving future growth through the innovation of the OASIS brand.
Tri Palm has negotiated leases in order to continue operations in the existing Columbus manufacturing facility, maintaining a significant number of jobs in the area.
Tri Palm will also continue to operate its Mexican operations and its European facilities in Ireland and Poland.
The company said it "will now be better positioned to compete with the low-priced imports from China and retail competition faced by its primary customer base, commercial water and plumbing distributors"
About Patriarch Partners, LLC