Recently while watching It’s a Wonderful Life, I noticed the swimming pool scene where George Bailey (Jimmy Stewart) and Marth Hatch (Donna Reed) are at the school dance. It’s a defining scene where a retractable basketball court opens up to reveal a hidden swimming pool beneath it. As George & Martha are dancing they don’t notice the floor begin to open. The cheering crowds spur them on even further, as they think everyone is cheering their dancing they fail to see they are dancing right over the edge and plunge into the pool.
The Pool Scene from It’s a Wonderful Life
Many of the other people at the dance dive right on in and an impromptu pool party ensues. It’s a touching scene in a must see movie that should be at the top of everyones holiday movie list. Many people believe that the swimming pool wasn’t real. Frank Capra the director of the film had the entire set of the town of Bedford Falls created on an 89 acre back lot at RKO Pictures in Culver City.
The set was actually inspired from the real life town of Seneca Falls in New York. Film buffs suggested that the pool itself was also a prop. As it turns out, according to Snopes.com who did the fact checking for us, the pool has been identified and is real. It’s known as the Swim Gym and is a Beverly Hills landmark. The pool was built by the WPA historical pool contractors in their own right, and designed by Stiles O. Clements in 1939.
Historical Land Mark Swimming Pool Has Been in Many Movies
The retractable pool belongs to Beverly Hills High School and was actually used in the filming of the movie. What’s even more interesting is that the pool is still around today! The pool itself is 25 yards long and is still used in swimming competitions. With the turn of a key the inground swimming pool the retractable pool cover converts back to a basketball court / dance floor.
It's a wonderful life (east coast feed) about to show the pool under the basketball court that still is there at my high school. #Beverly— Adam Wohl (@adamwohl) December 25, 2012
Latham IPO begins trading on Nasdaq
Latham IPO began trading Thursday. Scott Rajeski and his team were able to raise $380 million dollars in the IPO debut of Latham on Nasdaq.
Latham Group Inc. had their initial public offering today. Shares soared 43% on the first day of trading. Latham was able to raise $380 million in their initial public offering priced at the bottom of a marketed range.
The stock was initially priced at $19 per share in its IPO on Thursday, but closed at $27.25 in New York trading on Friday, giving it a market cap of $3.3 billion. The shares were sold by Latham for $19 to $21 each.
During the coronavirus pandemic, Latham’s profit and sales increased as property owners focused on home improvements, such as pools. Latham focused on acquiring Narellan and a 28% stake in Premier Pools & Spas.
In an interview, Chief Executive Officer Scott Rajeski said that he believes Latham will outperform the market, which he expects to rise by 10% per year.
“We felt this was a really good time to get our story out there into the public markets and continue to drive with brand awareness of our company,” Rajeski said.
“We are so excited that we are on this journey as we embark on pushing our brand to the homeowner. We created this unique direct to homeowner model to educate them on why a Latham fiberglass pool is the best pool of choice.” said Scott Rajeski “It’s got great economics, it’s got a lower up front cost than traditional products, and we are single handededly driving this material conversion story of fiberglass pools vs other pool types. It’s got an 18% penetration today in North America today,” continued Rajeski
Last year, Latham earned $16 million in net income on revenue of $403 million in net sales, up from $7.5 million in net income on $318 million in sales the previous year. The IPO proceeds will be used to pay down debt and buy back shares, as well as for general corporate purposes, according to the group, which is headquartered in Latham, New York.
Barclays Plc, Bank of America Corp., Morgan Stanley, and Goldman Sachs Group Inc. led the sale. The stock is traded under the symbol SWIM on the Nasdaq Global Select Market.
Featured Photo Credit: Times Union
Fluidra Predicts 6% Growth in Coming Years
Fluidra expects to grow sales above 6% and increase dividend by 15% in the coming years.
Fluidra, the global leader in pool and wellness equipment, has confirmed the strong positive prospects for the company in the medium-term. It is expecting to accelerate annual sales growth to above 6% in the coming years, outgrowing the market, driven by market share gains and acquisitions. The company is also set to continue its margin improvement, guiding to expand its EBITDA margin above 50 bps per year.
- The company expects to reach the high end of its guidance range for 2021, with sales growth of 15% and cash EPS growth of 25%.
- Fluidra has committed to become a carbon neutral company in 2027 as one of its main goals within its ESG policy.
During Capital Markets Day Fluidra has reaffirmed its strong cash generation medium term guidance with cash EPS, a key proxy that excludes non-cash items and non-recurring expenses, over 15% per year. This will allow Fluidra to fund value generation initiatives, including both shareholder remuneration and inorganic growth. The company has confirmed a dividend pay-out policy of 50% of cash net profit in the coming years. In terms of M&A, the company still sees significant inorganic growth opportunities in a fragmented industry, which can be leveraged on an excellent track record.
A strong 2021
A strong start to 2021 helped by the global stay-at-home and flight-to-the-suburbs trends, confirms the strong fundamentals of the business and the resilience of the industry.
After CMP’s acquisition, Fluidra raised its 2021 guidance, with Sales growth expectations of 12-15% and cash EPS growth of 17-25%. The company has confirmed today that it expects to reach the high end of the guidance range. Furthermore, Fluidra has confirmed that it expects to reach all the objectives defined in the Strategic Plan 2018-2022 in 2021, one year ahead of the plan.
ESG at the heart of Fluidra’s activity
Fluidra has presented its new comprehensive Environmental, Social and Governance (ESG) “Responsibility Blueprint” plan for the period spanning 2020-2026. One element that stands out in it is the introduction of ESG performance based variable remuneration for Fluidra’s managers.
On the environmental front, Fluidra has made the stellar commitment to becoming carbon neutral in 2027 in terms of Scope 1, 2 and by 2050 for Scope 3. Additionally, the firm expects to have more than 80% of products sales classified as ESG friendly in 2035, currently more than 50% of them already meet this criterion.
In the Social category, Fluidra will focus on the well-being of its employees, with a strong commitment to aiming for “zero net wage gap” between men and women by 2024.
The Governance category is also an essential part of the company’s roadmap. Fluidra achieved an ESG rating of 69 out of 100 based on S&P’s analysis and the company is committed to reaching a score of 80 by 2030.
“We are a global industry leader with a unique footprint and value proposition in a structurally attractive industry. We have achieved all our 2022 goals ahead of plan and we will continue growing faster than our sector. Most importantly, ESG has been at the heart of Fluidra’s activity, and our Responsibility Blueprint commitments will reinforce our long-term positive impact” Eloi Planes, Fluidra’s Executive Chairman stated
Tri-City Vinyl Announces Above Ground Liner Expansion
Tri-City Vinyl expands into above ground liners
Saginaw, MICHIGAN – Tri-City Vinyl is pleased to announce the expansion of their pool liner solutions with the introduction of above-ground pool liner options. For over 40 years, Tri-City Vinyl has been providing high-quality pool liners for a wide variety of in-ground pool installations, and is excited to bring that same quality to their new above-ground liner products.
“Above-ground pools have grown in popularity as people continue to find value and invest in products and experiences that they can enjoy with friends and family,” said Mark Irwin, Tri-City Vinyl General Manager. “As this market grows, we knew it was important to offer consumers the same high-quality liner solutions that in-ground pool owners have enjoyed for over four decades.”
Tri-City Vinyl above-ground pool liners are manufactured from 20 mil PVC film in a variety of standard oval and round dimensions, and are available in a blue apalite pattern or solid blue color.
This new line is a testament to Tri-City Vinyl’s commitment to providing high-quality solutions that meet a variety of consumer needs. To learn more about Tri-City Vinyl’s in-ground and above-ground pool liners, contact the Tri-City Vinyl Sales Team at 800-334-9949 or by email at email@example.com.
About Tri-City Vinyl
Since 1976, Tri-City Vinyl, Inc. has been manufacturing pool and pond liners, pool covers (flat sheet and beaded), water tubes, and pillows as well as cistern liners. Over the years, Tri-City Vinyl, a division of Plastatech® Engineering, Ltd., has earned a reputation of excellence for fast turnaround time, a wide variety of designer patterns, precise craftsmanship, and competitive pricing. For more information, contact Tri-City Vinyl at 800-334-9949 or visit www.tricityvinyl.com.
Melissa Lee, Communications Manager
640 E Morley Drive
Saginaw, MI 48601
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