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Wynnchurch Capital Makes Growth Investment in Premier Franchise Management

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ROSEMONT, Ill & NEW YORK–(BUSINESS WIRE)–Wynnchurch Capital, L.P. (“Wynnchurch”), a leading middle market private equity firm, announced that it has made a growth investment in Premier Franchise Management, (“Premier” or the “Company”).

Founded in 1988, Premier is the nation’s leading residential pool-build and pool-service franchisor. In the last year alone, Premier generated more than $500 million in system wide sales and added 30 build franchise locations as well as 17 service franchise locations, bringing its current number of franchise locations to 140 across 38 states. The Company utilizes world-class training, a robust lead generation system, and decades of experience to empower its franchisees to be the best in the pool industry. System wide sales have experienced year-over-year growth of approximately 35% over the past five years and Premier franchisees have built more than 80,000 pools since the Company was founded.

Paul Porter, founder and CEO of Premier, said, “We are thrilled to partner with Wynnchurch Capital. Working with Wynnchurch will only further accelerate our growth plan and increase our market penetration. They bring a wealth of experience that will better position our company to service our customers, support our franchisees, and attract new business.”

Joining the board of Premier will be Russ Gehrett, Partner, and Carl Howe, Principal, at Wynnchurch. Russ noted, “Since founding the business in 1988, Paul has done a tremendous job transforming Premier into one of the nation’s preeminent franchisors. We are excited to work with Paul and his team to continue to drive growth and further strengthen a best-in-class brand name in the pool industry. Premier’s unique value proposition and leading market position directly align with the top qualities that have driven Wynnchurch’s most successful partnerships over the past 22 years.”

Lowenstein Sandler LLP served as legal counsel while Jefferies LLC served as financial advisor to Wynnchurch.

About Premier Franchise Management:

Based in Roseville California, Premier Franchise Management (“Premier”) is the largest U.S. residential pool-build and pool-service franchisor. In the last year alone, Premier added 30 build franchise locations and 17 service franchise locations, bringing its current number of franchise locations to 140. Premier has won several industry awards; notably, Premier Pools & Spas was recently recognized as one of the nation’s top franchises in Entrepreneur’s Franchise 500®. For more information, please visit: Premier Franchise Management.

About Wynnchurch Capital:

Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with offices in New York, California, and an affiliate in Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $4.2 billion of committed capital under management and specializes in management buyouts, growth capital, recapitalizations, corporate carve-outs and restructurings. For more information, please visit: https://www.wynnchurch.com.

Wynnchurch is actively seeking investment opportunities for its $2.277 billion Fund V. In December, Wynnchurch made a strategic growth investment in Mattress Warehouse, a leading independent mattress retailer with over 300 locations. Other recent Wynnchurch investments include: Appvion, a leading provider of specialty and high performance direct thermal coatings; Owen, a leading provider of critical infrastructure equipment, aftermarket parts and services; Trimlite, a leading manufacturer and distributor of residential doors and related door products; and Northern Wholesale Supply, a leading provider of RV and marine parts and accessories.

Contacts

Carl Howe
Principal

[email protected]

Source: Businesswire.com

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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 [email protected].

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Coverings 2024 Announces 10th Class of Rock Stars, Celebrating a Decade of Industry Excellence

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April 9, 2024 – Atlanta – Coverings (coverings.com), the premier international tile and stone exhibition and conference in North America, has unveiled the honorees of the annual Rock Star Awards ahead of Coverings 2024, taking place April 22-25, 2024, at the Georgia World Congress Center, in Atlanta, Georgia.

2024 marks the 10th year of the coveted awards program, underscoring Coverings’ unwavering, decade-long commitment to fostering industry growth by honoring exemplary young leaders in the tile and stone industry.

This year’s Rock Star recipients epitomize the industry’s most resourceful and exceptional young professionals who consistently innovate as forerunners of achievement, setting new standards in performance and excellence to further industry advancement.  

“Over the past decade, the Rock Stars program has become a Coverings cornerstone, commemorating the innovative spirit and remarkable achievements of emerging tile and stone leaders,” said Jenn Heinold, president of Taffy Event Strategies, the show management company for Coverings. “The 2024 Rock Stars represent shining examples of professionals who demonstrate leadership, creativity and commitment to excellence, helping to drive the industry forward in countless positive ways. Coverings is proud to honor these exceptional individuals as part of the program’s 10th anniversary celebration.”

A panel of tile and stone industry leaders carefully reviewed nominations to determine this year’s 16 Rock Star inductees. The 2024 winners encompass a wide range of industry segments as follows:

Contractor/Installer (7):

Sean Gordy, Owner

Gordy Tile

Atlanta, Ga.

Shanan Hehir, Owner

Shanans Absolute Tile LLC

Manchester, Vt.

Trevor Hook, Owner

Hooked on Tile LLC

Evansville, Wis.

Nathan Merrill, Installer/Owner

Vision Stone and Tile

Mogadore, Ohio

Megan Renk, Owner

Mosaix Tile Installation Company

Coeur d’Alene, Idaho

Aryk Snowberger, Owner

Snowbee Custom Tile

Canton, Ohio

Gus Tolleson, Project Manager

J&R Tile, Inc.

San Antonio, Texas

Designer (2):

Marie Page, Sales Design Consultant

Architessa

Rockville, Md.

Amala Raj Swenson, Principal Interior Designer

Amala Raj Interiors

San Diego, Calif.

Distributor (4):

Steven Bellew, Operations Manager, Warehouse Coordinator / Co-owner

Bellew Tile & Marble Co / TJB Imports

Hingham, Mass.

John Donaghy, Director of Operations – Commercial Division

Best Tile

Fairhaven, Mass.

Jordan Johnson, Procurement Associate

International Tile & Stone

Daytona Beach, Fla.

Matthew Marchildon, Tool & Accessory Division Manager

Centura Tile

Toronto, Ontario

Manufacturer (2):

Markus Dworowy, National Technical Manager

Blanke Corporation

Rolling Meadows, Ill.

Kali Pharand, Product Standards and Sustainability Coordinator

Schluter Systems

Plattsburgh, N.Y.

Retailer (1):

Dani Williams, CEO and Creative Director

Artesana Tile

Tucson, Ariz.

The 2024 Rock Stars will be celebrated at Coverings 2024 alongside winners from the past nine years, uniting both new and previous award recipients in a grand celebration of industry excellence. A panel with previous Rock Stars about unlocking the key to a successful career will top off the celebration.

Showgoers are invited to participate in the festivities by attending the 2024 Rock Star Awards Ceremony & 10th Anniversary Celebration, which will be held April 22, 4-5 p.m. EDT, in the Outdoor Oasis (Hall C, Booth 7006) at Coverings 2024.

Recognition for this year’s winners also includes Coverings press content, a year-long professional feature on the Coverings website as well as postings on Coverings’ social media channels and blog. 

Coverings 2024 attendees and other industry professionals can learn more about the Coverings 2024 Rock Stars at coverings.com/coverings-rock-stars.

For more information and to register for Coverings 2024 at no cost, visit coverings.com.

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Local Veteran Brings First California Pools Location to Temecula

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70-Year-Old Custom Residential Pool Construction Franchise Signs Deal to Bring Services to Temecula

TEMECULA, Calif. (April 1, 2024) – California Pools, the industry leader in custom residential swimming pool construction, is breaking ground with a franchise deal to bring its services to the Temecula market. This is the 16th California Pools location in California, with this location set to debut by April 2024.

Acquaintances turned business partners, the new location will be owned and operated by Ron Marquez and Laron Daffin. Marquez served in the U.S. Marine Corps for over two decades before he became a Project Manager for a different California Pools franchise while he earned a degree in manufacturing and engineering. Daffin has been in the construction industry since he was 17, working on a wide range of projects before focusing mainly on pools for the last 20 years.

When the two crossed paths by chance in 2022, Daffin quickly became a mentor for Marquez. The duo clicked immediately and the next move was simple, by combining Marquez’s leadership and project management experience with Daffin’s network, pool and construction industry knowledge, they decided to venture into business together. Knowing the history and quality of the California Pools franchise system, it didn’t take long for them to know it was time to bring one to their hometown.

“We are excited to give people their dream and be a part of making memories for them,” said Marquez. “California Pools provides great service and quality to its customers, and to be able to continue to provide that to our community is something we pride ourselves on.”

Since 1952, California Pools has guided countless homeowners through the process of creating their dream backyard retreat. The franchise has a trusted process for delivering a customer’s dream by offering a turnkey solution for custom pools, spas, waterscapes, landscapes, and much more. By working directly with the customers and trusted local sub-contractors, California Pools streamlines what can be a difficult and costly headache into a dream-made-real.

“We’re looking forward to adding Ron and Laron to the California Pools family as we expand our services into the Temecula market,” said Steve Terry, President of California Pools. “Our goal has always been to turn peoples’ backyard dreams into a reality. With Ron and Laron’s help, we’re going to help bring paradise right into the backyards of the Temecula community.”

Now, Temecula homeowners will receive a hands-on experience with a partner that will provide custom design and quality construction. Their expert designers provide guidance from initial consultation through final walkthrough as a customer’s dream is brought to life in a positive and engaging process.

To learn more about California Pools and its franchising opportunities, please visit www.franchisecp.com.

ABOUT CALIFORNIA POOLS

California Pools began its dream building in 1952 when founder Wayne Steimle wanted to build a swimming pool in his own backyard. Using what he had around him, Steimle built his pool and inspired his neighbors to want Steimle-built pools of their own. Since then, California Pools’ services began to spread nationwide and by 2018, the brand created a franchising model to support the goal of serving and guiding the dreams of homeowners across the nation. California Pools Franchise now has many franchise locations in California and other states. With its extensive experience building pools in California over the decades, the leadership has goals to continue the expansion throughout the nation and beyond. To learn more about California Pools and its franchising opportunities, please visit www.californiapools.com.

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SRS Distribution Announces Next Phase of Growth by Combining with The Home Depot to Better Serve Professional Customers

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MARCH 28, 2024

SRS Distribution Inc. (“SRS”) announced today that it has entered into a definitive agreement with The Home Depot to be acquired for $18.250 billion. Under the terms of the agreement, SRS Distribution will operate as an independent business unit within The Home Depot, focused on accelerating growth in the Pro market.

Over the past 16 years, the SRS family has become one of the fastest-growing building products distributors in the United States. This proposed transaction will bring together the impressive talent, technology, and capabilities of SRS with The Home Depot’s trusted name and robust platform, expanding SRS’ reach into numerous new product categories and customers.

The proposed acquisition will clear a pathway for accelerated growth with the residential and commercial professional customer by expanding The Home Depot’s Pro capabilities, combining online, retail, and wholesale. The combined platform will open new opportunities for existing suppliers and partners by providing access to SRS’ expert workforce focused on specialty verticals, as well as The Home Depot’s cross-project expertise, product mix, network, and digital assets.

Under the agreement, the SRS senior leadership team will remain with the company to guide its ambitious growth plans. Dan Tinker, President and CEO of SRS, will continue to lead SRS operations under this new structure, reporting to The Home Depot CEO Ted Decker.

“We are proud to be combining with The Home Depot to continue our growth journey with the additional resources and capabilities they will put behind us,” said Dan Tinker, President and CEO of SRS. “We set out to find the optimal strategic outcome for the business, and we strongly believe we have achieved just that. With this combination, the future has never been brighter for our supplier partners, our Pro customers, and our team.”

“SRS’ ability to build leadership positions in each of its trade verticals while generating significant revenue growth is a testament to its strong vision, leadership, culture, and execution,” said Ted Decker, Chair, President, and CEO of The Home Depot. “SRS’ branch network, coupled with The Home Depot’s 2,000+ U.S. stores and distribution centers and comprehensive product offering provides the residential and commercial Pro customer with more fulfillment and service options than ever before. I look forward to welcoming Dan and the entire SRS team to The Home Depot and capturing the exciting opportunity ahead.”

SRS Distribution currently has two private equity investors: Berkshire Partners LLC. (since 2013) and Leonard Green & Partners L.P. (since 2018). “Over the past 16 years, SRS Distribution has successfully grown its business while delivering tremendous shareholder value to its investors and, more uniquely, to
its employees,” said Jon Seiffer, Senior Partner at Leonard Green. “This next chapter with The Home Depot is a logical step in SRS’ evolution and will mutually benefit both companies’ growth prospects for the benefit of all employees, customers, and suppliers,” said Josh Lutzker, Managing Director at Berkshire Partners.

The transaction is expected to close by the end of fiscal 2024 and is subject to regulatory approvals and other customary closing conditions. Jefferies LLC. is acting as lead financial advisor, and Goldman Sachs is also acting as financial advisor to SRS on this transaction.

About SRS Distribution

Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution has grown to become one of the fastest-growing building products distributors in the United States. Since the Company’s inception, it has established a differentiated growth strategy and entrepreneurial culture that is focused on serving customers, partnering with suppliers, and attracting the industry’s best talent. SRS Distribution currently operates under a family of distinct local brands encompassing more than 760 locations across 47 states. SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC. For more information, visit www.srsdistribution.com.

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