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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.

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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.  

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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

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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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PHTA Launches New $5,000 Greg Garrett Scholarship Award

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PHTA Logo

Annual scholarship supports continuing education and certification

(Alexandria, Va.) — The Pool & Hot Tub Alliance (PHTA) is pleased to announce the launch of the new Greg Garrett Scholarship Award. Developed by the PHTA Recreational Water Quality Committee (RWQC), this $5,000 scholarship will be awarded to one PHTA member in the builder or service sector each year to use for PHTA educational or certification fees. The application deadline for the 2022 scholarship is Friday, September 16.

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This scholarship was developed as a tribute to Greg Garrett, who dedicated 45 years to the pool, spa, and hot tub industry and served in many leadership roles in the RWQC, Builders Council, and Standard Writing Committees. He held the highest honor within PHTA as an Industry Fellow and was a great advocate for education and standards. His enthusiasm was shared at committee meetings and all the places he traveled around the country to teach for various trade organizations. Garrett passed away in 2019.

To be considered for the Greg Garrett Scholarship Award, an application form and two recommendations need to be provided. PHTA members can self-nominate or nominate a fellow member. After receiving the scholarship, the recipient must provide a written report of what was learned and how that new knowledge will advance their career in the pool, spa, and hot tub industry.

The winner will be honored at the PHTA Awards of Excellence Reception as part of the International Pool | Spa | Patio Expo (PSP/Deck Expo) in Las Vegas, NV, on November 14, 2022.

“Greg Garrett was an educator and mentor to many, and his sudden passing impacted all who knew him. This scholarship created in his memory has been many months in the making,” says Genevieve Lynn, PHTA Director of Standards and Technical Services. “By financially supporting the continuing education and certification of our members, the Greg Garrett Scholarship Award helps PHTA further its mission to educate and elevate the industry.”

For more information about the Greg Garrett Scholarship Award and to submit an application form, visit the PHTA website. Please send any questions to standards@phta.org.

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About the Pool & Hot Tub Alliance
The Pool & Hot Tub Alliance (PHTA), a non-profit organization with more than 3,600 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.  

About PHTA’s Recreational Water Quality Committee (RWQC)
The Pool & Hot Tub Alliance’s RWQC develops and maintains verifiable science-based information regarding sanitization technology and chemical products, for use in pools, spas and hot tubs. The committee also helps develop the chemical and sanitation sections for American National Standards Institute (ANSI)-approved PHTA standards, including the ANSI/APSP/ICC-11 American National Standard for Water Quality in Public Pools and Spas. For a current listing of Committee members or more information, email Genevieve Lynn, Director of Standards and Technical Services, at standards@phta.org.

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RIVERBEND SANDLER ANNOUNCES ACQUISITION OF CRYSTAL CLEAR CUSTOM POOLS

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Riverbend Sandler Pools Acquired Crystal Clear Custom Pools

Plano, TX. (August 10, 2021) – Riverbend Sandler Pools (“Riverbend”), the leading residential pool construction, service, and maintenance provider in the Dallas – Ft. Worth metroplex, and a portfolio company of Concentric Equity Partners (“CEP”), announced the acquisition of Crystal Clear Custom Pools (“Crystal Clear” or the “Company”), a Midlothian, TX-based provider of residential swimming pool service, maintenance, repair, and renovation services. Riverbend has acquired Crystal Clear from longtime owner and leader Tom Sheehy, a multi-decade operator and leader in the pool industry, who will remain with the Company in his current leadership role and join the service and maintenance leadership team at Riverbend.


Crystal Clear is a trusted residential pool service provider serving customers across 19 cities in three counties in the southern DFW metroplex. Founded more than 20 years ago by Tom Sheehy, Crystal Clear emphasizes finding, training, and utilizing the best talent to deliver a top customer experience. All Crystal Clear technicians and employees will continue in their current roles with the Company. Crystal Clear represents an ideal partnership for Riverbend Sandler as a part of the platform’s aggressive organic and acquisition growth goals within the DFW metroplex and throughout the state of Texas.

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“I wasn’t looking to sell my company and was admittedly apprehensive at first after hearing about some other founders’ mixed feelings following an exit.” said Tom Sheehy. “However, the entire Riverbend team quickly put my fears to rest and were great to work with throughout the process. I want to see my legacy thrive and have my employees continue to call their jobs home, and this partnership with Riverbend Sandler will provide benefits to my employees that I wouldn’t be able to provide in the near future.”


“Tom Sheehy’s knowledge and experience across the pool industry will be invaluable to the growth of the Riverbend Sandler platform overall and specifically our service and maintenance businesses” said Riverbend Sandler CEO Bruce Mungiguerra. “I’m thrilled to add Tom to our team and believe he will be a big driver of value for our business moving forward”.


“Crystal Clear has a well-known reputation in the Dallas pool market for service, quality, and
commitment to technician training” said Charles Barnes, Founder and Chairman of Riverbend Sandler. “Our businesses will both greatly benefit from shared insights, and our overall platform customer experience and service delivery will further advance”.
Adam Lucas of CEP adds: “Tom Sheehy is a true entrepreneur and leader who has developed an
impressive organic growth engine for Crystal Clear that will be invaluable for our platform moving forward. This represents our first pool service company acquisition and demonstrates our commitment to an aggressive growth strategy through acquisitions”.

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About Crystal Clear Custom Pools:
Headquartered in Midlothian, TX, and serving the southern parts of the DFW Metroplex, Crystal Clear is a leading residential pool service and renovation company. Founded in 2002 by Tom Sheehy Crystal Clear has differentiated itself in the market by its dedication to its customers and focus on providing the most skilled and highly trained technicians in the market.
For more information on Crystal Clear, visit www.cccpools.com

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Press Releases

Deckorators® Invests in Contractor Program with JobTread Partnership

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Deckorators_JobTread

 Business Management Platform Supports Contractors

GRAND RAPIDS, Mich., July 27, 2022 – Deckorators®, a leading brand of UFP Industries, Inc. (Nasdaq: UFPI), has partnered with JobTread Software to provide their contractor program best-in-class business management support. This partnership demonstrates Deckorators’ continued commitment to supporting and growing its team of Certified Pros.

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With JobTread, Certified Pros will gain seamless access to Deckorators’ full product catalog along with pre-configured best practices, templates, and industry-leading project management tools designed for, and by, deck builders.

Deckorators selected key brand ambassadors to collaborate with JobTread to optimize the management of a deck building business. These insights make the platform uniquely tailored to the outdoor living and deck building markets which rely heavily on economic forecasting and agile responsiveness for success.

“Our goal is to develop a world-class program to help our Deckorators Certified Pros grow their business,” said Nick Larr, Deckorators National Contractor Development Manager. “Job Tread’s product is an end-to-end business management software complete with estimating, job costing, invoicing, scheduling, and a CRM that fits perfectly with our goals for the contractor program.”

Supported by a culture of partnership and family, Deckorators has a growing roster of Certified Pros across the U.S. and Canada. The program features detailed training, workshops, lead generation, marketing collaboration, and Certified Pro Spotlights that live on the Deckorators website.

 Deckorators Certified Pros can:

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  • Gain access to Deckorators’ product catalog and proven project management templates
  • Increase sales with more professional proposals and faster response times
  • Upsell additional products by providing customers with optional selections and upgrades
  • Accurately price jobs and manage costs to enhance profit margins
  • Deliver improved customer experiences through the use of a customer portal for communications, eSignatures, scheduling, online payments, and file and photo sharing

Deckorators Certified Pros receive a discount on their JobTread subscription[DG1] . For more information on the Deckorators Certified Pro contractor program, visit pro.deckorators.com and follow Deckorators on Pinterest, Facebook and Instagram. Contractors can sign up to become a Certified Pro at www.deckorators.com/certified.

Media Contacts:

Micah Paldino

PB&J

Cell: 513-668-7676

Micah@makepbj.com 

Stuart Lindle

PB&J

Cell: 513-482-9541

Stuart@makepbj.com

ABOUT DECKORATORS 

Deckorators, the first name in decking, railing and accessories is a brand of UFP Retail Solutions, LLC, a UFP Industries company. Deckorators originated the low-maintenance aluminum balusters category with the Classic Series and has since led the industry with many new and innovative decking and railing products. Its approach to developing exciting and distinctive products allows both DIYers and builders to bring the personal creativity of interior design to outdoor living. 

To learn more about Deckorators decking and railing accessories, visit www.deckorators.com or call 800-556-8449. 

Follow Deckorators on Instagram: @Deckorators 

LinkedIn: www.linkedin.com/company/deckoratorscompany 

Facebook: www.facebook.com/Deckorators 

YouTube: www.youtube.com/DeckoratorsProducts 

Pinterest: www.pinterest.com/deckorators 

UFP INDUSTRIES, INC. (NASDAQ: UFPI) 

UFP Industries, Inc., formerly Universal Forest Products, is a holding company whose operating subsidiaries – UFP Industrial, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of wood- and alternative material-based building and industrial products worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia and Australia. For more about UFP Industries, go to www.ufpi.com. 

ABOUT JOBTREAD SOFTWARE

JobTread provides end-to-end construction management software to help jobs based businesses more efficiently manage all of their processes, from pre-construction through to project completion. The platform offers a central location to manage jobs, teams, schedules, documents, photos, finances, customers, vendors, sub-contractors, and more all in one place. Its budget-first approach creates financial transparency at every stage of a project, mitigating risk and ensuring the project stays on time and on budget. Get organized, complete your projects on time, and increase your profits with JobTread.

To learn more about JobTread, visit www.JobTread.com or call 972-388-1001.

Facebook: www.facebook.com/JobTread 

Instagram: www.instagram.com/jobtread 

YouTube: www.youtube.com/jobtread 

Twitter: @JobTread

LinkedIn: www.linkedin.com/company/28920856 

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