Hayward officially began trading on the NYSE March 12, 2021. The pool equipment manufacturer joined a growing number of large manufacturers that have gone IPO. Back in February, the company announced it’s intention to list themselves on the New York Stock Exchange. Hayward CEO Kevin Holleran had the privilege of ringing the closing bell this afternoon.
Hayward stock will be trading under the stock symbol HAYW. The company plans to sell 40,277,778 shares of its common stock at $17 per share.
“This is a tribute to 95 years of building this great brand, the most known and trusted brand in the pool industry. It’s just spectacular for our present and past employees.”KEVIN HOLLERAN – CEO of HAYWARD
Holleran who first joined Hayward back in 2019 says that it was his aspiration to take the company public since day one. “To be able to access the public markets, be able to de-lever some of our debt, give us some financial flexibility and optionality to start funding some go-forward growth initiatives.” said Holleran.
Hayward IPO Details
In regulatory filings, Hayward said it’s intention is to use the proceeds from the IPO to pay down some $300 million in debt. Hayward said that it aims over $725 million dollar with it’s IPO launch. In a company press release company press release, Hayward stated it’s intention to use the net proceeds it receives to repay outstanding debt under its senior secured credit facilities and will not receive any proceeds from the sale of shares of common stock by the existing stockholders.
The announcement of the IPO comes recently on the heels of the death of the companies former owner and chairman Oscar Davis. Davis owned the company since 1964 until 2017, when it was then sold to a private equity firm.
From the Official Press Release
BofA Securities, Goldman Sachs & Co. LLC and Nomura are acting as booking managers. Credit Suisse, Morgan Stanley, Baird, Guggenheim Securities and Jefferies are also acting as joint bookrunning managers. BMO Capital Markets, KeyBanc Capital Markets, William Blair, Houlihan Lokey and Moelis & Company are acting as co-managers.
This offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: BofA Securities, Attention: Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, NC 28255, telephone: 1-800-294-1322 or email: email@example.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or email: firstname.lastname@example.org; or Nomura, Attention: Equity Syndicate Department, Worldwide Plaza, 309 West 49th Street, New York, NY 10019, telephone: 212-667-9000 or email: email@example.com.
About Hayward Holdings
Hayward Holdings, Inc. is a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems. Headquartered in Berkeley Heights, NJ, Hayward designs, manufactures, and markets a full line of innovative, energy-efficient pool and spa equipment, with brands including AquaVac®, AquaRite®, ColorLogic®, Navigator®, OmniLogic®, OmniHub™, TriStar®, Super Pump®, TurboCell®, pHin™, CAT Controllers®, HCP Pumps and Saline C® Series.
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Hayward Investor Relations
Keeping Employees Happy & Committed To Your Business
Creating a roadmap for retention that allows employees a chance to grow is important to the success of your organization.
It’s a Saturday afteroon and I’m on one of the most active Groups pertaining to the pool industry, 14psi Pool Industry Lounge on Facebook – when a fantastic question pops up pertaining to the retention of key employees.
One of the members of the group asked an interesting question that many in the pool industry often wonder, “How do you keep employees happy and wanting to stay with your business?”
It’s a relevant question and one that has a few simple solutions that are easy to follow. Jeff Johnston, owner of Quality Clear Pools posted a simple image that really illustrates the key cornerstones of employee retention.
Employees will stay when they are:
- Paid Well
It’s vital that employees feel that they are well compensated for their labor, and paid a proper wage for the services provided. Bargain basement shopping for the cheapest talent will hold you back as an organization and hold back the quality and caliber of your work.
There is a saying that goes “you have to sink or swim in the pool industry“, but that shouldn’t hold true to training brand new wet behind the ears workers who are in their first season of learning the ropes. Nobody likes to be thrown into a lions den. If you don’t have the resources and bandwidth to mentor new employees, perhaps delay bringing them on until you do or pay to send them for the proper training so that they can adequately perform the tasks you’ve assigned them.
Key employees thrive on being challenged with new roles and responsibilities that enable them to prove their long term value to your organization. By not allowing employees the opportunity for personal growth within their role, there is nowhere to go and little chance to grow their skill set.
Keeping someone confined to a role they’ve outgrown is a recipe for disaster. As people expand as individuals you have to present them with the same opportunities that allowed you to become successful. Promoting key employees to managerial and supervisory positions allows you to step back a bit and let that employee own some responsibility. It’s also important to see rule #1 because a salary adjustment should correlate with any promotion in responsibility.
Immersing your employees into the culture of your company and allowing them to be part of the history and community your business is centered around serving personally invests people. Keeping employees at arms length and detached from customers, teams, and activities is never a good strategy. The best team leaders create an atmosphere of inclusion.
It never hurts to single someone out for a job well done. People love recognition of their service, and it’s especially vital that you find ways to celebrate personal achievement and growth within your teams. Fostering the type of environment that punctuates milestones in an employees growth is a great way to instill a feeling that their efforts are appreciated. It’s also important to show your appreciation in more tangible ways the employee can feel in their wallet. Giving a bonus for extraordinary service is a great way to incentivize and create a positive team culture where employees feel committed to the business.
Trusting employees to do their role is essential. Letting go of the reigns a bit is important and it enables your employees to flourish as they feel a sense of camaraderie and foundation built on that trust. Allowing key employees some visibility about the business is also essential towards establishing mutual trust and long term growth. Every business has a circle of trust and who you let into it should be based off of their contributions to the business and the merit of their character.
Employees need to have a sense of empowerment within the role you’ve assigned them. Providing an employee with a roadmap towards achieving growth within your organization is a core fundamental. Empowering them to manage teams, take on bigger roles, or focus on more important projects is a signal to that employee that you trust them. It fufills people on a personal level to know they are matriculating to a higher level and being given more responsibility.
Key employees will stay with you through thick and thin if they feel they are valued. If your employees know unequivocally you appreciate their labor, talent, efforts, and intellect they will feel value and personal fulfillment. In reality, there probably isn’t a person on the face of the planet that doesn’t feel like their contributions are valued enough. Demonstrating that you value the time, energy, commitment and drive your key employees bring to the table is an important part in keeping them happy.
“I think we are heading into a new world order where long term employment with one company in any industry or occupation will be rare.”Jeff Hampe
Unfortunately at the end of the day, there is no magic recipe for keeping everyone happy. Even the world’s greatest coach Vince Lombardi knew that the true measure of a successful organization is their ability to organize a winning team. That starts with finding people who are team players. Some of the most talented inviduals have trouble working in a team setting.
There is no denying that we live in a different world than our parents did. Keeping employees committed to an organization is tough in the world we live in today. In the world our parents and grandparents grow up in, folks spent the majority of their lives working for a single company. Those days are long gone for many different industries, but that doesn’t have to hold true for the pool industry. At the end of the day we each are presented with the opportunity to be the author of our own story. What defines your organization could very well be your ability to adapt these very core values as part of your strategy for mentoring growth.
Creating a culture that promotes from within and allows people the opportunity to grow starts with selecting the right people first. Keeping your A players happy is important, and it’s equally important to create the type of roadmap we spoke of for your B players as well.
What are some things you do to motivate and incentivize employees in your organization? What strategies do you use to put a winning team out on the field? Sound off in the comments.
Pool Magazine Adds Jimi Smith as In-House Photographer
Pool Magazine is proud to announce the addition of world famous pool photographer Jimi Smith as our in-house photographer for our publication. Jimi Smith will be the exclusive photographer for all cover features that elect to have our in-house team photograph their projects. A veteran pool photographer with numerous magazine covers to his credit, Smiths work has been seen all over the internet and social media. He has fast become a favorite among elite design / build firms.
“Jimi is a household name in the pool industry, everyone knows and admires his work so this type of partnership makes absolute sense” said Pool Magazine Editor – Joe Trusty, “There isn’t a single builder in America that doesn’t wish he could have Jimi come out and shoot their pools.”
Jimi Smith is often brought in as a freelance photographer by some of the biggest stars in the pool industry and has produced an incredible volume of work over the past decade. Consequently, his photos have been shared millions of times all over social media. His intimate knowledge of how pools operate and how to best stage the pool area to be photographed have produced him an incredible following.
“As we make our transition this autumn to a print publication, Smith will be an invaluable resource. His incredible photos will add a new dimension of refinement and sophistication to Pool Magazine” said Carol Gigliotti, Director of Sales & Marketing.
As our in-house photographer, Smiths photos will grace the majority of covers for our trade publication. His talent for producing jaw dropping photographs, truly captures the architectural beauty of swimming pools.
Jimi Smith will be attending the International Pool | Spa | Patio Expo in Dallas in November, where he will be giving a presentation to the Genesis group on pool photography. Smith will be a featured guest at our booth during the Expo. We invite you to stop by Booth #1624 in the Genesis Pavillion and get to know our new publication and meet world famous pool photographer, Jimi Smith.
Why Build a Luxury Inground Pool?
The covid-19 pandemic forced most homeowners to upgrade their outdoor spaces. As a result, there was an increased demand for pools and pool services. A good percentage of homeowners constructed luxury inground pools last year. Generally, inground swimming pools serve as great sources of entertainment and relaxation. But we cannot deny the fact that these spectacular features are not simple to maintain. So, why build a luxury inground pool?
Why you should build a luxury inground pool in your backyard
Luxury inground swimming pools help individuals boost their overall health. Swimming daily improves your physical and mental health. If you have this feature in your home, you need not sign up for aerobic or gym classes. You can exercise from the comfort of your own home. A large luxury inground pool helps you do the best cardio workouts without experiencing too much strain on your body. Not to mention, you can always sit inside the pool after a long day to unwind and destress.
One of the best things about having a professional build a luxury inground pool in your home is that you don’t get to share it with anyone. Public pools may not be as hygienic as your pool. If you have a luxury inground pool, you can always decide who can access the pool. Additionally, there is something beautiful about swimming alone in your backyard without any distractions.
Luxury inground pools enable you to host pool parties, among other special events by the poolside. Here, you can bond with your loved ones. During summer, you can host outdoor cookouts. In fact, some celebrities use their poolside as their album release party location. You don’t have to spend thousands of dollars hiring a location for a wedding or your child’s birthday party. Having a luxury inground pool provides the perfect event location in your yard.
Undoubtedly, luxury inground pools can transform your yard into a premium oasis. These pools incorporate a wide range of water features that provide exceptional aesthetics. Additionally, most luxury inground pools have world-class pool designs. So, they make your property look more appealing. In turn, luxury inground pools increase your property’s value.
Nevertheless, always choose the right features that complement your backyard. If you build a luxury inground pool, you are more likely to gain a large return on investment when selling your property. If you are a commercial pool owner, you attract more people to your pool. So, you are in a better position to gain a higher return on investment.
Keeping your children occupied during summer
Currently, most individuals are working from home. It can be stressful to concentrate when your children are running all over the place. Luckily, installing a luxury inground pool provides more hours of pool play for your children. When you have a swimming pool on your property, your children are likely to spend their day by the poolside. Consider installing water features like slides to make their swimming experiences more enjoyable.
Important information about luxury inground pools
Massive construction costs
Building a luxury inground pool can take a toll on your budget. On average, inground swimming pools cost approximately $35,000 to $100,000. Adding custom features to make the pool luxurious costs an extra $2,000 to $10,000. If you are not careful, pool construction can make you bankrupt. Consider saving for luxury inground pool construction. Also, consider applying for pool financing options. Nowadays, there is a broad spectrum of pool lenders who can help you make your pool dreams come true.
Although pools offer many hours of enjoyment, we cannot deny that these features pose safety concerns. Accidents are common, especially in most commercial pools. Based on previous statistics, a good percentage of fatalities in the United States resulted from drowning. Luckily, most pool owners are doing their best to promote safety in the pool. For example, commercial pool owners employ people to monitor everyone swimming in the pool.
Skin irritation and contamination
Public pools put people at risk of contamination. Also, chlorine in pools can lead to skin and eye irritation. This chemical is not entirely safe for people with sensitive skin. Fortunately, most pool owners take the time to disinfect their pools regularly. There are many techniques and chemicals to keep pools clean. So, this shouldn’t be a problem. If you are a pool owner, do your best to keep your pool clean at all times.
Luxury inground pools offer both advantages and disadvantages. Knowing whether they are worth a try depends on your needs. Before you build a luxury inground pool, understand all the pros and cons involved in building these features. More often than not, the advantages will always outweigh the disadvantages.
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