Press Releases
Fluidra Continues to Accelerate Growth With Acquisition of S.R. Smith
Fluidra S.A. (BME: FDR), the Spanish listed global leader in pool and wellness equipment and connected solutions, today announced it has acquired S.R. Smith, a US-based manufacturer of commercial and residential pool deck equipment and accessories, from Champlain Capital, a private equity fund based in San Francisco and Boston.
- Addition of the US-based manufacturer of commercial and residential pool deck equipment and accessories will bolster Fluidra’s position in the commercial and residential pool segments.
- S.R. Smith’s product offering and manufacturing expertise are highly complementary to Fluidra’s business, expanding growth prospects and creating value for existing and new customers.
- The acquisition values S.R. Smith at $240 million and is expected to be cash EPS accretive to Fluidra in 2021.
Founded in 1932, S.R. Smith is a leading global manufacturer specializing in commercial and residential pool deck equipment and accessories. Their product portfolio, which is complementary to Fluidra’s offering, is extensive and includes starting blocks, rails, ladders, slides, diving boards, ADA-compliant lifts, swimwall systems, thermal cover systems and in-pool furniture.
Headquartered in Canby, Oregon, S.R. Smith operates manufacturing facilities from multiple locations in the United States and Australia. Their products are supported by distributors around the world, with focus in the United States, Australia, Canada and Europe. With the addition of S.R. Smith, Fluidra will further expand its existing operational network, increasing the company’s overall product delivery capability.
The acquisition was valued at $240 million and was fully settled at closing with existing cash and debt facilities. The transaction is expected to be accretive to Fluidra’s cash EPS from day one. Fluidra is raising its 2021 guidance based on the expected positive contribution from the S.R. Smith acquisition as follows:
- Sales growth will increase from 35-40% to 37-42%
- EBITDA margin will stay between 25% to 25.5%
- Cash EPS growth will increase from 80-90% to 83-93%
“Our ultimate goal is to be the best partner in the industry for our customers. In the past year, we’ve doubled down on our commitment to grow in different market segments and product categories and have made strategic acquisitions in North America of Built Right Pool Heaters LLC’s business and Custom Molded Products LLC to bring us closer to that goal,” said Bruce Brooks, Chief Executive Officer of Fluidra. “This latest acquisition of S.R. Smith doesn’t just move us one step closer, it propels us. S.R. Smith is an exceptional company with a talented team and stellar reputation. Their specialized expertise and comprehensive portfolio of products will accelerate our future growth in the commercial and residential pool segments and will ultimately allow us to better serve our customers in North America and around the world.”
“We are excited to join the Fluidra family,” said Rich Laitta, Chief Executive Officer of S.R. Smith. “With their strong dedication to meeting customer needs, focus on innovative solutions and services, and global market expertise, we believe this move will facilitate the next evolution of growth for S.R. Smith.”
Following the acquisition, S.R. Smith will continue to operate independently from its Oregon headquarters.
McGuireWoods LLP acted as lead legal advisor to Fluidra. Prestwick Partners acted as sell-side advisor to S.R. Smith, while Troutman Pepper Hamilton Sanders LLP acted as their legal advisor.
Media Contacts:
Global
Sarah Estébanez, sestebanez @ tinkle.es, +34 636 62 80 41
Xana Pena, xpena @ tinkle.es, +34 674 73 47 82
Laura Gil, lgil @ tinkle.es, +34 673 631 814
North America Jacquie Edelman, jedelman @ fluidra.com, 760 390 1458
News
AquatiCare™: Proactive Pool Maintenance You Can Count On
AquatiCare™ is Landmark Aquatic’s newly enhanced preventative-maintenance program, built to keep your water safe, your systems reliable, and your downtime low. Customized service plans align with each facility’s unique needs, covering equipment inspections, routine maintenance, and precise chemical care. Water is your business; staying on top of it is ours. We get ahead of issues before they surface, so your water is ready for anyone, anytime.
With AquatiCare™ facilities get technicians that are factory trained, Certified Pool Operators (CPOs) that also receive continuous, certified training so technicians stay current on industry standards, safety protocols, and the latest technological advancements. AquatiCare™ also offers in-depth maintenance of chemical, deck and mechanical items to help extends equipment life, optimize water consumption, and create a more sustainable operation. AquatiCare™ packages are fully customizable, with maintenance visits scheduled to align with a facility’s specific needs.
Landmark Aquatic is a premier provider of commercial aquatic facility design, construction, and maintenance, with more than six decades of industry leadership. Serving clients nationwide, Landmark delivers construction-led solutions supported by its CPO-certified AquatiCare maintenance team, ensuring excellence “for the life of your pool.” Committed to the full lifecycle of every facility, Landmark prioritizes long-term partnerships while adapting to client needs through exceptional service, operational excellence, and forward-thinking solutions.
For more about Landmark Aquatic visit www.landmarkaquatic.com
More information contact:
News
RB Retail & Service Solutions adds DocuSign to Software
RB Retail & Service Solutions now offers DocuSign as an integrated feature in their pool and spa industry business software. This electronic signature and agreement platform lets you send, sign, and manage documents securely online, instead of using paper contracts. Integrated directly within the RB system so staff can work with contracts and request signatures without exiting the POS software. Allows users to send contracts (e.g., sales agreements, financing forms, service waivers), track status, send reminders and easily pull signed contracts attached directly to the customer. Provides security and compliance with encrypted documents and detailed audit trail.
RB Retail & Service Solutions provides point of sale and business management solutions for pool & spa and chimney & hearth retailers. The software was specifically designed with those industries in mind, taking into consideration the features that would be of most importance to those business owners. RB is a highly experienced and trusted authority in the industry and its software boosts profitability, competitiveness, work/life balance of owners and employees, efficiency, and the ability to make more informed, data-driven decisions about their business.
RB Retail & Service Solutions software was created over 20 years ago by a pool and spa professional to handle the diversity and complexity of the pool and spa retail, service, and construction business. Our software is continually enhanced, and further developed with suggestions and input from hundreds of pool and spa dealers throughout the United States and Canada. Call to schedule a demo.
To learn more or to schedule an online demo, call or visit their website:
(866) 933-9099
Monroeville, PA
News
BSquared offers New Free Standing Sunledge
BSquared Pools offers a new freestanding sunledge that can be added to any outdoor living space! The new Free Standing Sunledge is a patent-pending product that gives consumers the benefits of a sunledge without the need for having a pool! Manufactured from the same pool-strength polypropylene panels used in its pool kits, this ‘plug-n-play’ solution can be used independent-of or in-combination-with a pool. Interior measures 72” x 82” with 235 gallons of water. Gentle overflow waterfall. Accommodates various pool loungers. Made in USA.
419-708-9631
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