Pamplona Capital Management announced December 19th that it has acquired a controlling interest in Latham Pool Products, Inc. from Wynnchurch Capital, which will remain a significant investor in the Company. The deal values Latham at $375 million.
Headquartered in Latham, New York, Latham branded product offerings include fiberglass pools, automatic safety covers, in-ground vinyl pool liners, polymer and steel pool-wall systems and other related accessories. The Company has more than 20 manufacturing facilities and distribution centers across the U.S. and Canada.
“We are excited to work with Wynnchurch and the Latham management team to build on the Company’s 62 years of customer relationships and market leadership,” says Russell Gehrett, partner at Pamplona. “Latham already has a reputation for building the most reliable, high quality, innovative, and affordable pools in the industry, and this will remain the focus going forward.”
“Latham is a much stronger and different company today than it was five years ago,” says Rajeski. “I am very appreciative of all the support Wynnchurch has provided us over the last three years and I believe Pamplona is the right partner to help to accelerate our growth strategy going forward.”
“We are very pleased with the extraordinary progress that Latham has made and believe the business, under Scott’s leadership, is poised for future growth,” says Chris O’Brien, managing partner at Wynnchurch. “Pamplona brings global resources and significant experience supporting growth businesses, which will help continue Latham’s development as the leader in the pool industry.”