Press Releases
Latham Announces Acquisition of Radiant Pools
LATHAM, N.Y., Nov. 30, 2021 (GLOBE NEWSWIRE) — Latham Group, Inc. (“Latham” or “the Company”), the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, today announced that it has acquired Radiant Pools for approximately $90 million. The acquisition expands Latham’s product portfolio into vinyl-lined, aluminum-walled swimming pools, which are an affordable option that allow consumers to create the ultimate backyard experience, and which provide solutions for a variety of backyard pool applications.
Based in Albany, NY, Radiant Pools was formed in 2005 following its acquisition of Trojan Pools, who invented the vinyl-lined, aluminum-walled category in 1957. Radiant Pools uses patented technology, derived from aerospace engineering, to make structurally insulated wall panels, which makes its products a durable and aesthetically pleasing option for homeowners. Vinyl-lined, aluminum-walled pools can be installed fully in-ground or fully above-ground, depending on homeowner needs. They can also be installed on slopes and be partially in-ground and partially above-ground.
“Radiant Pools is an excellent addition to Latham’s product portfolio since it complements our existing business and enables us to expand our addressable market,” said Scott Rajeski, President and Chief Executive Officer of Latham. “Radiant Pools primarily serves the Northeastern U.S., giving us the opportunity to roll its outstanding products across North America in partnership with Latham’s industry-leading dealer network. We are excited to welcome Radiant Pools to the Latham family and look forward to working with Tony Sirco, Radiant Pools’ prior owner, who will stay on as a partner and oversee its integration into Latham.”
“Radiant Pools pioneered the vinyl-lined, aluminum-walled swimming pools category with a premium quality product. Latham has been a long-standing partner of ours, and we share a dedication to providing superior products to dealers and homeowners,” said Tony Sirco, President of Radiant Pools. “As part of the Latham family, we believe that we can accelerate our strong growth, and we look forward to a bright future together.”
Radiant Pools generates approximately $35 million in annual sales. The acquisition was funded through a combination of Latham’s existing cash and incremental borrowing under the Company’s revolving credit facility, which was amended to provide for incremental term loans in an aggregate principal amount of $50 million. The acquisition is expected to have no material impact on Latham’s fiscal 2021 outlook.
About Latham Group, Inc.
Latham Group, Inc., headquartered in Latham, NY, is the largest designer, manufacturer and marketer of in-ground residential swimming pools in North America, Australia and New Zealand. Latham has a coast-to-coast operations platform consisting of over 2,000 employees across 32 facilities.
About Radiant Pools
Headquartered in Albany, NY, Radiant Pools is the market leading manufacturer of vinyl liner aluminum swimming pools that can be built completely in-ground, semi-in-ground, or above ground. Radiant Pools products are sold directly to swimming pool dealers throughout North America.
Forward-looking Statements
Some 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,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: secular shifts in consumer demand for swimming pools and spending on outdoor living spaces; slow pace of material conversion from concrete pools to fiberglass pools in the pool industry; general economic conditions and uncertainties affecting markets in which we operate and economic volatility that could adversely impact the Company’s business, including the COVID-19 pandemic; the Company’s ability to integrate Radiant Pools effectively and exposure to unforeseen or undisclosed liabilities of Radiant Pools, the ability of the Company’s suppliers to continue to deliver the quantity or quality of materials sufficient to meet the Company’s needs to manufacture the Company’s products and other risks, uncertainties and factors described under the section titled “Risk Factors” in the registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company, as well as other filings that the Company will make, or has made, with the SEC, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.
Investor Contact:
Nicole Briguet
Edelman for Latham
[email protected]
Media Contact:
Crista Leigh Wunsch
[email protected]
Pool News
Fluidra Launches €20 Million Venture Capital Fund – Fluidra Ventures
The company will invest €20 million in tech-based startups that offer emerging solutions that can enhance the pool and wellness sector.
Fluidra, a global leader in connected equipment and solutions for the pool and wellness sector, is launching Fluidra Ventures, a €20 million corporate venture capital fund (CVC) investment to lead innovation in the sector.
The CVC will invest in each startup with the potential to revolutionize the industry on a global scale through their solutions, with a special focus on the United States and Europe. The goal of this first three-year phase is to build a solid portfolio of startups through investing in innovative companies.
The CVC will target startup initiatives that enhance efficiency, connectivity, sustainability and safety in the swimming pool and wellness business, leveraging IoT, computer vision and robotic solutions. It is looking for startups that add value to the pool and wellness sector with innovative business models, fostering direct customer interaction through sales, subscriptions and other channels. The CVC has already invested in Coral Smart Pool, a technology company aiming to transform the pool experience through Artificial Intelligence (AI) with an initial focus on pool safety.
Fluidra Ventures will also invest in companies that innovate in engineering and science to advance materials and products that deal with swimming pool manufacturing, efficiency and maintenance.
Four segments and eight strategic guidelines
The fund is focused on four different segments — Commercial, Residential, Wellness and Mass Market—and has an investment thesis that covers eight strategic guidelines, from connected pools, resource optimization, digital platforms, innovative materials, security systems, personalized experiences, robotics and innovative consumable products.
Fluidra Ventures is fueled by Fluidra Lab, Fluidra’s open innovation division, and any startups that want to submit their proposals can send their investment pitch decks to [email protected]. Offering more than just investments, Fluidra aims to leverage this initiative to become the top strategic collaborator for the most innovative startups with the tremendous benefits that being an industry leader brings, such as: resources, scale successful business models, expertise, experience, and sales options.
“This initiative joins several others that we have at Fluidra to promote innovation in our industry. This is why here at Fluidra Ventures we’re excited about the transformative potential that this venture will have for the pool and wellness industry, driving forward innovation, sustainability and technological advancement”, said Eloi Planes, Fluidra’s Executive Chairman.
News
Coverings Sneak Peeks New Products for 2024
March 7, 2024 – Atlanta – Coverings (coverings.com), North America’s largest international tile and stone exhibition and conference, has revealed a curated first look at the new tile, stone, tool, installation and technology products that will be at Coverings 2024, April 22-25, 2024, at the Georgia World Congress Center, in Atlanta.
Ceramics of Italy, Tile Council of North America and Tile of Spain, Coverings’ three primary sponsor pavilions, will feature an invigorating showcase of tile and stone with a focus on design, functionality and sustainability. Showgoers will benefit from a firsthand experience of the hottest product trends and newest innovations shaping the future of the tile and stone industry. Attendees of Coverings 2024 will also have the opportunity to engage with top tile and stone industry experts and source products from more than 1,000 global exhibitors, representing 40 countries.
The following is a select preview of the newest tile and stone products Coverings 2024 exhibitors will be featuring:
Anima Wonder, by Ceramiche Caesar SpA, faithfully interprets natural inspirations with charm and personality. It is available in three functional sizes and eight different color nuances to meet various design needs and applications. Coverings 2024 Hall B, exhibit booth # 3635.
Cannè, one of the latest series by Ceramica Rondine, is available in five color shades, each offering the freedom to create unconventional styles. Light colors offer a harmonious fusion of structure and comfort with three-dimensional, parallel lines to restore brightness and refine the space. Coverings 2024 Hall B, exhibit booth # 4055.
Chroma, a new addition to Appomattox Tile Art’s Ready-To-Ship collection, offers a stone mosaic design reminiscent of pixilated abstractions that brings a burst of color and versatile personality to any room. Coverings 2024 Hall C, exhibit booth # 7359.
Forme, by Emilgroup, is the latest Emilceramica collection inspired by the four natural elements – earth, wind, fire and air. Forme reaches into the distant past to delight the most contemporary taste with a warm and welcoming aura combined with refined design and outstanding performance. Coverings 2024 Hall B, exhibit booth # 4075.
Geo, a new collection from Halcón Cerámicas, delivers an exploration of limestone’s serene beauty, offering not just inspiration, but a language that speaks of history, culture and natural art. Coverings 2024 Hall B, exhibit booth # 2859.
Lenox Lappato, by Emotion Ceramics, presents new finishes to the company’s most acclaimed marble. Lappato redefines elegance with each piece of porcelain stoneware shining with captivating splendor and soft textures offering a pleasant and subtle tactile experience. Coverings 2024 Hall B, exhibit booth # 2859.
MUSA, a new collection introduced by BESTILE, showcases the perfect fusion between craftsmanship and innovation. Its nine-color palette evokes the warmth of tradition while enhancing the beauty of nature. Coverings 2024 Hall B, exhibit booth # 2755.
Slate Design Project,Landmark Ceramics’ new porcelain collection inspired by natural slate, combines beauty, rich textures and a distinctive appearance with the superior performance of porcelain through its two distinct surface personalities: Coverings 2024 Hall C, exhibit booth # 7336.
QuarryBasics® Ironspot, from Metropolitan Ceramics, puts heavy use, functionality and visual appeal at the forefront, supplying a durable, matte finish quarry tile designed with a subtle, through-body look. Coverings 2024 Hall C, exhibit booth # 7229.
Quartz Stone Grey Matte,the newest in Cicogres’ Quartz Stone collection, encourages creative design experimentation while enhancing the natural allure of stone to foster spaces with distinctive personality and visual delicacy. Coverings 2024 Hall C, exhibit booth # 2859.
SENSI NUANCE, a new collection introduced by ABK, derives inspiration from the most elegant of marbles while embracing the vast world of color. The collection is the result of in-depth research into colored marble varieties and stands out for its luxurious contemporary palette of colors. Coverings 2024 Hall B, exhibit booth # 3544.
Sinai,by Coem–Fioranese, is a newly introduced collectioninspired by the timeless beauty of Golden Sinai stone mined in Egypt. Its dominating golden shades with grains from beige to pale brown add a charming flash of color to any space. Coverings 2024 Hall B, exhibit booth # 3534.
Tessino, an elegant and versatile new marble collection from Azulejos Benadresa (AB), presents in awide range of colors adorned with white veins that fill it with nuances. Its wide variety of formats and finishes offer a vast array of design possibilities. Coverings 2024 Hall B, exhibit booth # 1959.
Blue Ridge Porcelain™ collection, by Wonder Porcelain, takes inspiration from the stately trees of Tennessee and the majestic Blue Ridge Mountains to craft an understated, minimalistic wood porcelain tile look. Coverings 2024 Hall C, exhibit booth # 6925.
Up, LA FABBRICA AVA’s new single-fired wall tile series, showcases an unexpected sculptural plasticity from its raised surface that is refined through plays of projections and recesses. Light molds its shapes into sinuous geometric effects, which can be further accentuated by combining different colors and surface finishes. Coverings 2024 Hall B, exhibit booth # 3554.
Vermont, by Baldocer,combines the extraordinary beauty of American oak wood with the best-performing ceramics to create an exceptional new collection. Vermont provides natural inspiration through its porcelain and white body models as well as its four distinct color and size options. Coverings 2024 Hall B, exhibit booth # 1917.
Vertical Illusion – 3D Architectural Wall Panel, by Unique Design Solutions,reimagines interiors with fresh new lines and modern designs that create the illusion of height or depth in any room. Coverings 2024 Hall C, exhibit booth # 7363.
A preview sampling of new installation materials, tools and technology products slated for Coverings 2024 includes the following:
ARDEX TLT Shower Systems, from ARDEX Americas, provide a simple, all-in-one solution for tiled shower installations, offering a strong, lightweight, vapor-resistant tile base for wet areas. The pre-sloped, waterproof shower bases are designed with a patent-pending, built-in drain assembly. Coverings Hall C, exhibit booth # 7551.
MAPEI’s Carbon Zero family of products are fully carbon-offset throughout their entire life cycle, a status achieved by calculating the product’s carbon footprint and reducing it to zero through efficiency measures in-house, as well as the acquisition of certified carbon credits supporting renewable energy. Coverings 2024 Hall C, exhibit booth # 7736.
GRABO, Nemo Power Tools’ next-generation fully electric suction cup, revolutionizes how stone, tile, glass and pavers are effectively handled and installed, providing a faster, more effective way for installers to work. Coverings 2024 Hall C, exhibit booth # 7853.
Leveling Compound Mixing Station, from BIHUI USA by Better Tools, allows hands-free mixing for up to 5 bags of thinset with a speed of up to 650 RPM. Its lightweight body and arc-shaped spout make for easy pouring of self-leveling cement, compounds and epoxies. Coverings 2024 Hall C, exhibit booth # 8145.
The Level Best, Best of Everything’s (BOE) new leveling system, offers a wider base for lifting and leveling large tiles, clear windows to see corners and edges, and convenient wings for easy tightening. Coverings 2024 Hall C, exhibit booth # 7849.
LATICRETE Profiles & Trims, by LATICRETE International Inc., offer a comprehensive array of more than 4,000 profile and trim options, providing the perfect solutions for floors, walls, coves, stairs, expansion joints and more. Coverings 2024 Hall C, exhibit booth # 7758.
These and thousands of other products can be seen in-person next month at Coverings 2024, April 22-25, at the Georgia World Congress Center, in Atlanta.
To view all Coverings 2024 exhibitors prior to the show, visit the detailed online exhibitor list and show floor map.
For more information and to register for Coverings 2024 at no cost, visit coverings.com.
Manufacturer
Pool & Hot Tub Alliance Announces Biolab As Newest Strategic Partner
(Alexandria, Va.) – The Pool & Hot Tub Alliance (PHTA), the trade association representing the swimming pool, hot tub, and spa industry, is pleased to announce BioLab as its newest Strategic Partner. The PHTA Strategic Partnership Program creates special opportunities for companies that promote the association’s initiatives, including education, advocacy, and market outreach.
BioLab, Inc. is one of the nation’s leading suppliers of swimming pool and spa water treatment products. A division of KIK Consumer Products based in Lawrenceville, GA, BioLab is a known innovator in the North American, Australian, European, and South African markets and the first to pioneer computerized water analysis for professional dealers and retailers. BioLab features many key industry water care brands: BioGuard®, Natural Chemistry®, SpaGuard®, SeaKlear®, Pro Series®, ProGuard®, Spa Essentials®, and Aquapill™.
“The team at BioLab is proud to enter into a strategic partnership with PHTA, furthering our commitment to help elevate the industry as a whole,” says Ted Lawrence, Vice President of Pro Sales for BioLab and member of the PHTA Board of Directors. “By aligning our core values of Educate, Advocate, and Elevate with PHTA’s ongoing initiatives, we believe our shared passion will lead to a longstanding and successful partnership.”
As part of the Strategic Partnership Program, PHTA will recognize BioLab’s commitment to the pool and hot tub industry by helping them maximize brand visibility, connect with thousands of engaged industry professionals, and unlock valuable opportunities. To learn more about BioLab’s leadership position in the industry, visit their page on the PHTA Strategic Partner Hub.
“PHTA is delighted to welcome BioLab as our newest Strategic Partner,” says Sabeena Hickman, CAE, President and CEO of PHTA. “BioLab is a respected brand throughout the pool, spa, and hot tub industry, with strong connections across builders, retailers, and service professionals and among consumers as well. This new partnership will enable PHTA and its members to reach even greater heights.”
For more information about the Strategic Partnership Program, please contact Sheri Jackson, PHTA Senior Director of Business Development, at [email protected] or 703-838-0083 ext. 157.
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