Latham Group, Inc. Announces Acquisition of Radiant Pools | Your money


LATHAM, NY, November 30, 2021 (GLOBE NEWSWIRE) – Latham Group, Inc. (“Latham” or “the Company”), the largest designer, manufacturer and distributor of residential inground swimming pools in North America, Australia and New Zealand today announced the acquisition of Radiant Pools for approximately $ 90 million. Acquisition expands Latham’s product portfolio to include aluminum-walled and vinyl-lined swimming pools, which are an affordable option that allows consumers to create the ultimate experience in their backyard and provides solutions for a variety of applications. of garden swimming pools.

Based in Albany, New York, Radiant Pools was formed in 2005 following its acquisition of Trojan Pools, which invented the vinyl-coated aluminum wall category in 1957. Radiant Pools uses technology patented, derived from aerospace engineering, to manufacture structurally insulated wall panels. , which makes its products a durable and aesthetic option for homeowners. Aluminum-walled and vinyl-lined pools can be installed fully inground or fully above ground, depending on the owner’s needs. They can also be installed on slopes and be partially buried and partially above ground.

“Radiant Pools is a great addition to Latham’s product portfolio as it complements our existing business and allows us to expand our target market,” said Scott Rajeski, President and CEO of Latham. “Radiant Pools primarily serves the northeastern United States, giving us the opportunity to deploy its exceptional products across North America in partnership with Latham’s industry-leading dealer network. We are delighted to welcome Radiant Pools to the Latham family and look forward to working with Tony Sirco, the former owner of Radiant Pools, who will remain as a partner and oversee its integration into Latham.

“Radiant Pools pioneered the category of aluminum-walled, vinyl-lined swimming pools with a premium product. Latham has been a long-standing partner of ours and we share our commitment to providing top quality products to dealers and owners, ”said Tony Sirco, President of Radiant Pools. “As a member of the Latham family, we believe we can accelerate our strong growth and look forward to a bright future together. “

Radiant Pools generates approximately $ 35 million in annual sales. The acquisition was funded by a combination of Latham’s existing liquidity and additional borrowings under the Company’s revolving credit facility, which was amended to provide additional term loans of total principal of $ 50 million. The acquisition is not expected to have a material impact on Latham’s outlook for fiscal 2021.

About Latham Group, Inc. Latham Group, Inc., headquartered in Latham, NY, is the largest designer, manufacturer and distributor of in-ground residential swimming pools in North America, Australia and New Zealand. Latham has a coast-to-coast operating platform of more than 2,000 employees in 32 facilities.

About Radiant Pools Headquartered in Albany, New York, Radiant Pools is the leading manufacturer of vinyl coated aluminum swimming pools that can be built fully in, semi-in or above ground. Radiant Pools products are sold direct to pool retailers across North America.

Forward-Looking Statements Certain of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are generally identified by the use of words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “could”, “plan” , “” predict “,” project “,” should “,” target “,” will “,” would “and, in each case, their negative or other terminology, different or comparable. These forward-looking statements reflect our views on future events as of the date of this press release and are based on the current expectations, estimates, forecasts, projections, assumptions, beliefs and information of our management. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it does not can assure that these expectations will prove to be correct. All of these forward-looking statements are subject to risks and uncertainties, many of which are beyond our control, and could cause future events or results to differ materially. ts of those stated or implied in this document. It is not possible to predict or identify all of these risks. These risks include, but are not limited to: secular changes in consumer demand for swimming pools and spending on outdoor living spaces; slow conversion of materials from concrete pools to fiberglass pools in the swimming pool industry; general economic conditions and uncertainties affecting the markets in which we operate and economic volatility which could have a negative impact on the Company’s business, including the COVID-19 pandemic; the ability of the Company to effectively integrate Radiant Pools and exposure to unforeseen or undisclosed liabilities of Radiant Pools, the ability of the Company’s suppliers to continue to supply the quantity or quality of materials sufficient to meet the needs of the Company to manufacture the Company’s products and other risks, uncertainties and factors described in the section entitled “Risk Factors” in the registration statement on Form S-1 filed with the Securities and Exchange Commission of United States (the “SEC”) by the Company, as well as other filings that the Company will make, or has made, with the SEC, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and routine reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other caveats included in this press release and other documents. We expressly disclaim any obligation to update or publicly review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Investor contact: Nicole Briguet Edelman for Latham

Media contact: Crista Leigh Wunsch

Copyright 2021 GlobeNewswire, Inc.


About Author

Comments are closed.