Press Releases

Latham Announces Acquisition of Radiant Pools

Published

1 year ago

December 2, 2021

Latham Acquires Radiant Pools for $90 million

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]

5/5 - (1 vote)

💙 Become a Supporter of Pool Magazine on Patreon!

Up Next

PHTA Announces 2021 Award Recipients

Don't Miss

Riverbend Sandler Pools Announces Acquisition Of Pulliam Pools

Marianne Trusty

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 [email protected]

Click to comment

0 Comments

Inline Feedbacks

View all comments

News

CHARLIE CLAFFEY APPOINTED AS PHTA 2023 CHAIRMAN OF THE BOARD

Published

1 day ago

December 2, 2022

Marianne Trusty

PHTA also announces board members for 2023

(Alexandria, Va.) – The Pool & Hot Tub Alliance (PHTA) is pleased to announce that Charlie Claffey has been appointed to Chairman of the Board for 2023. Claffey is President of Claffey Pools in Southlake, Texas, which has been in business for over 35 years.

Claffey has taken an active leadership role in the pool, spa, and hot tub industry for many years. Within 10 years of taking over Claffey Pools, he was able to quadruple the number of pools the company built in a year, and has led Claffey Pools to consistently be named one of the top builders in the country. PHTA feels privileged to have a passionate leader with a strong vision take the helm.

PHTA is also pleased to announce its board members for 2023:

Chair Elect: Joe Laurino, Ph.D., Periodic Products, Inc.
Secretary: Keith Harbeck, Premier Pools and Spas, Inc.
Treasurer: Scott Frost, Fluidra
Immediate Past Chairman: Andy Levinson, PoolCorp

PHTA’s Board Members at Large include:

Bob Blanda, Mill Bergen Pools
Caley Gibbs, Gib-San Pool & Landscape Creations
Tracine Marroquin, Jacuzzi Group
Matt McDermott, Heritage Pool Supply Group
Albert Miller, Hayward
Kevin Post, Counsilman-Hunsaker

“The 2023 PHTA Board of Directors is comprised of amazing individuals who care deeply about the pool, spa, and hot tub industry,” says Sabeena Hickman, CAE, President and CEO of PHTA. “I know they will steer our association—and our industry—in the right direction this coming year, and help us develop even more valuable resources for our members. Congratulations to all of our new board members!”

For more information, please contact Amy Willer, PHTA’s Associate Director of Marketing and Communications, at [email protected] or 703-838-0083, ext. 121.

###

About the Pool & Hot Tub Alliance
The Pool & Hot Tub Alliance (PHTA), a non-profit organization with over 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.

5/5 - (1 vote)

News

Sneak Peek of Educational Opportunities Released for Coverings 2023

Published

2 days ago

December 1, 2022

Marianne Trusty

Dec. 1, 2022 – ARLINGTON, Va. – Coverings (coverings.com), the preeminent event for North America’s ceramic tile and natural stone industry, released today a sneak peek of featured education for Coverings 2023. A robust lineup of complimentary learning opportunities, including live demonstrations, curated show floor tours, interactive sessions, and partner education, will span all tile and stone industry segments.

Showgoers of Coverings 2023, taking place April 18-21, 2023, at the Orange County Convention Center in Orlando, Florida, can benefit from dozens of educational opportunities focusing on numerous trends and relevant topics. All learning opportunities will focus on Coverings’ core tenets, which include “Sustainability,” “Health & Wellness,” “Outdoor Spaces,” and “Timeless Luxury.”

Coverings 2023 education is being designed to provide attendees with the critical resources and know-how they need to keep current in today’s highly competitive tile and stone marketplace.

Three on-floor education stages for participants to experience the latest innovations in the tile and stone industry will be key features of Coverings 2023. These include the return of the Installation Innovation Stage and Trends & Solutions Stage, and a new 2023 addition of the Fabricator Stage.

Educational sessions will focus on the show’s three strategic learning tracks: “Installation & Fabrication,” “Materials & Trends” and “Workforce & Profits.”

The “Installation & Fabrication” track will help attendees brush up on industry best practices and cutting-edge techniques in the installation and fabrication of tile and stone. Those who attend the “Workforce & Profits” sessions will discover new and successful business practices and tactics to better grow and manage their workforces with practical labor solutions and takeaways for maximizing bottom-line profits. Attendees of the “Materials & Trends” sessions will be provided updates on the latest trends, design inspirations and techniques within the world of tile and stone.

A particularly invaluable session during Coverings 2023, which will be part of the “Sustainability” tenet, is “Today’s Leading Sustainability Drivers and Their Impact on the Tile Industry.” Attendees will gain insight into today’s sustainability market and the current conversation around carbon emissions, detailing the need for furthering the demands of environmental transparency, standardized environmental performance and human health optimization pertinent to product ingredients. The session will address how green building products and projects are increasingly scrutinized for embodied carbon, and how companies are further striving toward “carbon neutral” and “net-zero” practices.

Teresa McGrath, chief research officer at Healthy Building Network, will lead “Luxury Vinyl Tile’s Carbon and Toxic Impacts,” one of the featured sessions within the Coverings 2023 “Health & Wellness” theme. McGrath will present the underreported environmental and human health impacts associated with Luxury Vinyl Tile (LVT). The session will include a review of LVT as a subject of concern among health experts and builders, in that, vinyl material introduces harmful toxins – such as volatile organic compounds (VOCs) – into living spaces and the earth over time.

A must-see Coverings 2023 “Outdoor Spaces” tenet session will include “Tile Installation Solutions and Systems for Exterior Projects.” Session attendees will join National Tile Contractor Association (NTCA) trainers and contractor members as they feature case studies on successful installations of porcelain and glass tile as well as natural stone in both outdoor residential and commercial projects. Product trends in varying formats, sizes and thicknesses will be discussed, and new technology and installation systems will be introduced at this informational learning opportunity.

The “Timeless Luxury” insights during Coverings 2023 will include numerous engaging sessions, including “Understanding How to Market and Sell to Your Wealthiest Prospects.” This educational must-see will provide attendees with the keys to selling to the affluent and analyze the proven methodology of understanding their level of wealth. Showgoers will review the five levels of wealth and examine the behaviors, needs, wants, desires, and fears of each demographic.

The University of Ceramic Tile and Stone, a Coverings 2023 educational partner, will present “How to be a Professional Architectural Sales Rep to Develop ‘Bullet Proof’ Specifications and Get the Order,” as a co-located learning opportunity, Monday, April 17, which is the day before the Coverings 2023 show floor opens. Thefocus of this four-hour live classroom training is to teach the fundamentals of being a professional and successful architectural sales representative. This course will explain and dissect the ingredients to developing a “Bulletproof Specification,” which are specifications resistant to value engineering and substitutes. A separate registration and fee are required for this opportunity through advanced reservations on the University of Ceramic Tile and Stone’s website.

Visit the Coverings website for further insight into the strategic learning tracks, key tenets and educational opportunities for Coverings 2023.

Gather more information and register for Coverings 2023 at no cost by visiting coverings.com.

###

Coverings’ Social Media:

Facebook: facebook.com/CoveringsShow

Twitter: @Coverings, #Coverings2023

Instagram: instagram.com/CoveringsShow

Vimeo: Watch Coverings videos

LinkedIn: Coverings LinkedIn showcase page

Blog: coverings.com/blog

About Coverings: Coverings is the largest and preeminent ceramic tile and natural stone trade fair and exposition in the United States and North America. It features exhibitors from more than 30 countries and is the stage for introducing some of the most innovative tile and stone products in the world.

The exposition and conference, with more than 30 years of successful history, serve as a valuable and complimentary continuing education resource for all segments of the industry, with dozens of educational opportunities throughout the show. Coverings attracts thousands of distributors, retailers, fabricators, contractors, specifiers, architectural and design professionals, builders, real estate developers, as well as journalists, reporters and bloggers who cover the vital tile and stone industry.

Key sponsors of the show are Ceramics of Italy/Confindustria Ceramica, Ceramic Tile Manufacturers Association of Spain (ASCER)/Tile of Spain, Tile Council of North America (TCNA), National Tile Contractors Association (NTCA), and Ceramic Tile Distributors Association (CTDA).

The show is managed by Taffy Event Strategies, LLC.

For more information about attending, sponsoring or exhibiting at Coverings 2023, contact Taffy Event Strategies at 571-313-5801 or [email protected].

5/5 - (1 vote)

Contractors and Builders

PHTA Debuts Pool Professionals Pipeline

Group plans to launch a robust jobseeker education program to fill pipeline with new talent.

Published

5 days ago

November 28, 2022

Marianne Trusty

(Alexandria, VA) – The Pool & Hot Tub Alliance (PHTA) today announced it is jumping into the waters of workforce development with its Pool Professionals Pipeline, a new program designed to help its members find workers, drive awareness amongst today’s jobseekers, and foster long-term career progression in the pool, hot tub, and aquatics industry.

“It’s no secret that many industries and businesses today are struggling to find and retain employees, and this is particularly true in trades such as ours,” says PHTA President and CEO Sabeena Hickman, CAE. “Our members are looking to PHTA to help fill that gap and we’re ready for the challenge. We are incredibly excited to share this new program with our membership and give them the tools they’ll need to compete in today’s labor market while working to attract a skilled, diversified, and thriving workforce.”

Underneath the PHTA’s Pool Professionals Pipeline workforce development umbrella is its external industry awareness campaign and jobseeker website, Work in Aquatics and workinaquatics.com, launching in 2023. Work in Aquatics will seek to advocate for trade professions by highlighting the numerous advantages, training and apprenticeship opportunities, job openings, and potential career progression tracks that are available working in the pool and hot tub industry. From construction labor to lifeguards, sales representatives, entrepreneurs, and even engineers and designers, there are many industry sectors and paths along the way that PHTA wants jobseekers to explore.

“This program is a game-changer for our industry as it works to drive qualified talent to our respective businesses and our industry as a whole,” says PHTA Chairman Charlie Claffey, owner of Claffey Pools. “To be successful, we’re going to need everyone on board as we work to put the industry on the radar of those searching for an alternative path to college; a rewarding career in a healthy lifestyle environment; the ability to work away from a desk; creative freedom through modern design; and lifesaving skills through swim instruction. The possibilities that exist in the aquatics industry are endless and once you begin in this line of work, you’ll never want to walk away. Let’s share that passion with the next generation of workers.”

A steering committee comprised of PHTA members, industry partners, and PHTA staff will serve in an advisory role to help guide programming, funding, and more:

Charlie Claffey, Claffey Pools
Joseph Laurino, Ph.D., Periodic Products, Inc.
Andrew Levinson, PoolCorp
Elizabeth McMurray, Florida Swimming Pool Association
Albert Miller, Hayward
Dominick Mondi, Northeast Spa & Pool Association
Kevin Post, Counsilman-Hunsaker
Teri Wiltshire, Master Pools Guild
Lisa Zarda, CAE, US Swim School Association

Members, partners, and others interested in becoming involved in the PHTA Pool Professionals Pipeline can contact Seth Ewing, PHTA Senior Director of Member Programs & Services, at [email protected]

Media Contact:
Amy Willer
Associate Director, Marketing and Communications
703-838-0083, ext. 121 | [email protected]