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Fluidra Continues to Accelerate Growth With Acquisition of S.R. Smith

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Fluidra Acquires 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

Marianne Trusty is a Press Correspondent for the pool & spa industry. A published author and social media influencer reaching over 20 million people around the world each day. Contact Marianne about publishing op-editorials, breaking pool news and press releases at mtrusty@poolmagazine.com.

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Press Releases

Pool & Hot Tub Alliance President & CEO Sabeena Hickman Elected to National Drowning Prevention Alliance Board

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Sabeena Hickman, CEO of Pool & Hot Tub Alliance was elected to National Drowning Prevention Alliance Board

(Alexandria, Va.) – The Pool & Hot Tub Alliance (PHTA) is pleased to announce that its president and CEO, Sabeena Hickman, CAE, has been elected to the National Drowning Prevention Alliance (NDPA) Board of Directors.

NDPA’s mission statement is, “United, we can prevent the tragedy of drowning.” Drowning is the number one cause of accidental death for children ages 1–4, and number two for children up to age 14. NDPA says, “Not one more drowning.” It works closely with families who have lost loved ones to advocate for safer aquatic practices and provides a wide range of resources on drowning prevention.

Hickman joins seven other outstanding individuals on the NDPA Board of Directors who work in different parts of the pool industry, healthcare, and emergency services. Together, this group is committed to expanding and promoting NDPA’s lifesaving work.

Hickman was selected in part due to her work in expanding the Step Into Swim initiative and her belief that those working in the pool and hot tub industry should take a lead in drowning prevention efforts.

“As an alliance, we want to make sure that all facets of the pool and hot tub industry are included in the discussions about water safety,” explains Dr. Adam Katchmarchi, Executive Director, NDPA. “There is a close connection between NDPA and PHTA and what we’re both trying to achieve with water safety. We are pleased to have Hickman’s voice on our board to represent the industry. Also, on an individual level, Hickman’s nonprofit and association management experience will be incredibly valuable to our organization.”

“I am honored to serve on the NDPA Board of Directors,” says Hickman. “Drowning prevention should be top of mind for everyone in the pool and hot tub industry. We have a commitment to not just manufacture, build, or service pools and hot tubs, but to educate the public on using them safely. We can all play a role in preventing drownings and saving lives.”

To learn more about NDPA, visit ndpa.org.

For more information, please contact Janay Rickwalder, PHTA’s Vice President of Marketing and Communications, at jrickwalder@phta.org or 703.357.3918.

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About the Pool & Hot Tub Alliance
The Pool & Hot Tub Alliance (PHTA), a non-profit organization with nearly 3,500 members from around the world, was established in 1956 to support, promote, and protect the common interests of the $36.5B pool, hot tub and spa industry. PHTA provides education, advocacy, standards development, research, and market growth to increase our members’ professionalism, knowledge and profitability. Additionally, PHTA facilitates the expansion of swimming, water safety and related research and outreach activities aimed at introducing more people to swimming, making swimming environments safer and keeping pools open to serve communities. For more information, visit www.phta.org.

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Press Releases

Float Like A Duck, Water Safety Initiative Receives Step Into Swim Grant

YMCA of Southern Nevada- Safety Around Water Program to benefit from Grant Funds

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Float Like a Duck Received $5000 grant from PHTA's Step Into Swim Program

(LAS VEGAS, NV) September 14, 2021 – Float Like A Duck™, a water safety initiative presented by Paragon Pools in Las Vegas, NV received a grant from Step Into Swim, the Pool and Hot Tub Alliance (PHTA) drowning prevention initiative.  The grant funds of $5,000, will be utilized in a collaboration with Float Like a Duck and the YMCA of Southern Nevada’s Safety Around Water Program.

“We would like to thank the Step Into Swim Champions Board for recognizing the value of our Float Like A Duck- water safety initiative and our partnership with the YMCA of Southern Nevada – Safety Around Water swimming program,” states Joseph Vassallo, CBP president of Paragon Pools and founder of Float Like A Duck. “We are very excited to receive the grant of $5,000.00. Many at-risk youths in the community will benefit from the grant funding by participating in the program at no-cost to the students.”

Since 2016, Float Like a Duck and Paragon Pools has supported the YMCA’s Safety Around Water with funding to provide support for the program that provides no-cost swimming classes to the Las Vegas community.  To date close to 1,200 children have been enrolled in the program.

“Paragon Pools’ commitment to drowning prevention and water safety education with the Float Like a Duck program is inspiring,” said PHTA Vice President of Partnerships and Development Rowdy Gaines. “Through programs like this, Step Into Swim can get closer to achieving its mission of creating one million more swimmers!”

The Y’s Safety Around Water Program teaches children of all ages and from all backgrounds that water should be fun, not feared. It is designed to reach children at-risk of drowning and teach them basic water safety skills.  The 8-session course takes children through a series of swimming and safety classes to prepare them for fun and safe water activity. The program is provided at no-cost to the participants.

Families interested in learning more about the YMCA of Southern Nevada– Safety Around Water program may contact the YMCA at (702) 877-9622. Step Into Swim, an initiative of the Pool & Hot Tub Alliance (PHTA), has recently distributed $99,590 in grant funds to 22 facilities across the country, reaching 6,297 children.

About Float Like A Duck™

Founded in 2003, Float Like A Duck™ is an award-winning public service water safety initiative created by Paragon Pools of Las Vegas with a mission of “Educating the public on the importance of safety while celebrating the joys of water sports.” The initiative focuses on ENFORCING the ABC&D’s of water safety, with a BIG emphasis on A-adult supervision. This program has been recognized by the President’s Council on Sports, Fitness & Nutrition, Nevada Governor’s Points of Light Awards, the National Drowning Prevention Alliance, and the National Water Safety Congress. Paragon Pools is a partner with Pool Safely, National Water Safety Month and the National Drowning Prevention Alliance and is a member of the Pool & Hot Tub Alliance (PHTA). FMI go to https://www.paragonpoolslv.com/float-like-a-duck

About the YMCA of Southern Nevada

Established locally in 1944, the YMCA of Southern Nevada is a 501c3 nonprofit and is one of the longest-serving and most-respected organizations of its kind in Las Vegas. The Y is one of the nation’s leading nonprofits strengthening communities through youth development, healthy living and social responsibility. Across the U.S., 2,700 Ys engage 22 million men, women and children – regardless of age, income or background – to nurture the potential of children and teens, improve the nation’s health and well-being, and provide opportunities to give back and support neighbors. Anchored in more than 10,000 communities, the Y has the long-standing relationships and physical presence not just to promise, but to deliver, lasting personal and social change. https://www.lasvegasymca.org/  .

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Press Releases

Water Safety PSA wins 2021 International VIDDY Award

PSA Focuses on Water Safety Tips for Children 1-4 years of age.

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Water Safety PSA - Float Like A Duck Wins Viddy Award

About Float Like A Duck™ 

Founded in 2003, Float Like A Duck™ is an award-winning public service water safety initiative created by Paragon Pools of Las Vegas with a mission of “Educating the public on the importance of safety while celebrating the joys of water sports.” The initiative focuses on ENFORCING the ABC&D’s of water safety, with a BIG emphasis on A-adult supervision. Paragon Pools is a partner with Pool Safely, National Water Safety Month and the National Drowning Prevention Alliance and is a member of the Pool & Hot Tub Alliance (PHTA). FMI go to https://www.paragonpoolslv.com/float-like-a-duck 

About UMC Children’s Hospital 

UMC Children’s Hospital offers Nevada’s highest level of pediatric care, providing a wide range of exclusive and highly specialized services to the community’s youngest patients. UMC Children’s Hospital is home to Nevada’s only designated pediatric trauma center. UMC Children’s Hospital serves as the state’s only hospital to be recognized and accepted as an associate member of the Children’s Hospital Association. UMC Children’s Hospital is staffed around the clock by board-certified and fellowship-trained pediatric emergency medicine and pediatric critical care physicians to provide young patients with the high-quality, specialized care they deserve. For more information, please visit www.chnv.org

About the YMCA of Southern Nevada 

Established locally in 1944, the YMCA of Southern Nevada is a 501c3 nonprofit and is one of the longest-serving and most-respected organizations of its kind in Las Vegas. The Y is one of the nation’s leading nonprofits strengthening communities through youth development, healthy living and social responsibility. Across the U.S., 2,700 Ys engage 22 million men, women and children – regardless of age, income or background – to nurture the potential of children and teens, improve the nation’s health and well-being, and provide opportunities to give back and support neighbors. Anchored in more than 10,000 communities, the Y has the long-standing relationships and physical presence not just to promise, but to deliver, lasting personal and social change. https://www.lasvegasymca.org/

About Mary B Vail, MBA Publicist 

Mary Vail, MBA is an award-winning Las Vegas based publicist known for her innovative PR and marketing campaigns as well as her philanthropic efforts that extend across the globe. She is the author of “What’s Your Philanthropic Footprint?”. Vail earned a BS from the University of Hawaii, an MBA from the University of Nevada-Las Vegas, Lee Business School Executive MBA program, and a Certificate in Social Sector Leadership from Berkeley University-Berkeley Haas School of Business: Philanthropy University. https://www.maryvailpublicist.com/ 

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