The deal is the third time in five years CVC has attempted to sell the UK company, having bought into the business way back in 1999.
It initially put Hozelock up for sale in 2007 for £100m and again in 2009, but both sales were scrapped.
Hozelock, which produces watering, spraying and other aquatic items for garden use, currently has a turnover of €117m according to CVC.
CVC was advised by Clifford Chance during the deal.
Schiro will become a member of CVC’s US and global financial institutions advisory boards to support CVC’s investment activities in the and in the financial services sector globally.
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