Pool News
One Rockin’ Pool Project at the Hard Rock
Jason Evans and Jeff Brown know a thing or two about taking on large projects like the Hard Rock pool. Industry veteran Evans has been indoctrinating his stepson Brown into the business over the past decade. Working side by side with his stepfather, the two have tackled their fair share of challenging jobs. For the south Florida firm renovating pools is a family affair. Their company, Pool Boy Plastering, has made a reputation for taking on some very visible and high-profile custom pool projects.
The Hard Rock Pool in Hollywood, FL
Recently Evans began posting photos of the Hard Rock Seminole pool they worked on in Hollywood, FL. The incredibly iconic guitar-shaped resort features a lush “Bora Bora” lagoon-style swimming pool which is just as stunning. A beach entry resort-style pool with actual sand, as well as a huge 4.5-acre lagoon for hotel guests that allows for paddleboarding, kayaking, and pedal boating, are just some of the world-class amenities you’ll find.
The high-volume firm has taken on large jobs, having completed over 12,000 projects during its tenure in the business. Catering to pool builders and architects, Pool Boy Plastering performs over 600 pool plastering jobs a year.
It’s safe to say that Evans and Brown collectively plastered roughly 7.2 million square feet or 110 football fields worth of pools. That’s a lot of plaster and a ton of experience in the field. It’s no wonder they were awarded the bid to do the interior of the Hard Rock swimming pool. Still, the two weren’t shy about confessing that this was the largest project they’d ever undertaken.
A Challenging Pool Interior
In describing what working on this pool was like, Evans was straight to the point. “It was a doozy, there were some really rough work conditions and it was probably one of the toughest jobs we’ve ever had to do,” he said.
“Not only did we have time constraints but it was during a really rainy season. Because it’s a Seminole reservation, OSHA is not allowed on the property, but they had their own safety team that was stricter than what a typical OSHA job site would be,” explained Evans, describing the working conditions.
“They would have lightning monitors, alarms would go off and we’d be suddenly forced to shut everything down and shelter. That’s tough, we’re out there mixing cement, pumping the Pebbletec. It was tough to just turn off the machine when it was full of cement and go hang out for an hour or two until we’re allowed to get back to work,” said Brown.
“We’d have almost daily meetings with the contractors, Brightview Developers did the entire outside of the hotel and were the ones we were collaborating with. The construction was 24/7 but our crew only worked during the day. In a fast-paced production schedule, it was a tough job site to work on. One day there would be parking, the next day there would be sidewalks where there were none yesterday,” said Evans.
Hitting a Moving Target
A project of this scale with a moving target and constantly shifting priorities was definitely a new experience for the firm. “It was always throwing us a loop. We’d be there doing a section thinking we’d be able to finish it and the concrete foreman would come up and inform us that the next day we’d have to break everything down and move out of the way and set up on the other side of the hotel to work. This was a rush build with overlapping deadlines. I must say though for a job of this scale it went fairly smoothly,” stated Evans.
“Having to run a slick line to shoot 800 square feet through other workers was definitely a challenge. We worked well on top of other contractors until it came time to use chemicals and then we’d have to cordon off certain areas of the job site. That made us popular,” said Brown, “they weren’t too happy to have to clear out when we had to do an acid wash.”
When asked if they’d take on this job again, the pair chuckled and said that is one they’d have to seriously consider. Despite the difficulties working on this project, the Pebbletec interior in this swimming pool came out gorgeous. A tremendous undertaking, this project is a testament to their abilities and was obviously a true labor of love.
Certainly not the only high-profile resort pool Evans and Brown have worked on, the two have traveled as far as Dubai to work on the Atlantis resort pool. They’re also probably one of the only pool plasterers that can count Sylvester Stallone as one of their clients. With that said, this rockin’ pool still remains one for the highlight reel.
Photo Credit: Jimi Smith Photography
Pool News
Landslide Damages Homes, Destroys Swimming Pool in California
A landslide wreaked havoc in Sherman Oaks early Wednesday morning, causing millions in damage and virtually destroying one homeowner’s swimming pool. The catastrophe unfolded at around 3 a.m. following reports from residents in the 3700 block of North Ventura Canyon Avenue, who noticed downed power lines and a large tree fallen into a backyard, as detailed in a press release by the Los Angeles Fire Department.
Upon arrival, firefighters encountered a significant portion of the hillside had shifted downward, endangering at least three homes and inflicting heavy damage on another under construction. Video footage captured by OnScene.TV revealed a gaping crack splitting through the backyard of one residence, with a section of the home visibly tilting to one side.
While no injuries were reported, several individuals were evacuated from at least one home, with firefighters resorting to pumping water out of a swimming pool to alleviate additional strain on the hillside. Unfortunately, part of the pool and home ultimately collapsed down a 30-foot cliff destroying another residence that was still under construction.
Responding to the crisis, the Los Angeles Department of Building and Safety initially deemed one home unsafe, red-tagging the structure. However, their assessment later extended to two homes deemed unsafe and a third severely damaged, marked with a yellow tag. Ongoing drone surveys by firefighters aim to assess the extent of the damage and potential risks.
At present, the exact cause of the landslide remains undetermined, according to LAFD spokesperson Nicholas Prange. Requests for comment from the Los Angeles Department of Building and Safety went unanswered.
Authorities seized the opportunity to remind residents of the necessity for year-round emergency preparedness, emphasizing the looming threats posed by wildfires and heavy rainstorms capable of triggering landslides.
The unfortunate incident follows March’s heavy precipitation in Southern California, with Sherman Oaks experiencing 1.95 inches of rainfall over March 6th and 7th, as reported by the National Weather Service.
Manufacturer
BofA Downgrades Latham Group Citing Weak Pool Construction Market
Latham Group (NASDAQ: SWIM), a prominent player in residential swimming pool construction, faced a setback as Bank of America downgraded its stock due to concerns over sluggish new pool construction and increased decrementals.
With the downgrade, SWIM’s stock plummeted by 23.78% during pre-market trading on Wednesday, settling at $2.50, marking an 11% dip below its 200-day simple moving average.
Bank of America revised its recommendation on Latham Group stock to Underperform, slashing the price target from $4.50 to $2.60.
In its 2024 guidance announcement, SWIM projected revenues between $490M and $520M, falling short of the consensus estimate of $533.09M. Similarly, adjusted EBITDA guidance ranged from $60M to $70M, representing an 8% to 35% decrease compared to previous expectations.
The downgrade stems from a sluggish start to 2024, subdued projections for new pool construction, operational challenges leading to deleverage, and constrained free cash flow.
Management anticipates a 15% year-over-year decline in new pool construction for 2024.
These developments contrast with the optimistic sentiment among some sell-side analysts, who maintain a Buy rating on SWIM with an average price target of $3.54.
Scott Rajeski, President and CEO, stated, “Latham navigated a very difficult market environment in 2023. We successfully implemented cost reduction programs and lean manufacturing initiatives that structurally reduced our cost basis, while maintaining our investments in future growth. These cost reduction programs improved margins as the year progressed and we expect they will enable us to considerably expand margins and overall profitability once volumes recover. At the same time, we increased productivity and efficiency for our dealers, developed new fiberglass pool models, and invested in digital tools that have enhanced the consumer’s pool buying experience. As a result of these actions, Latham is positioned for meaningful market share gains as overall industry conditions improve.”
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.
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