AusLeisure

Fluidra S.A., the Spanish listed global leader in aquatic facility and wellness equipment and connected solutions, has announced its acquisition of S.R.Smith, the US-based manufacturer of commercial and residential pool deck equipment and accessories, from private equity fund Champlain Capital.

Founded in 1932, S.R. Smith is a leading global manufacturer specialising in commercial and residential pool deck equipment and accessories.

Their product portfolio, which is complementary to Fluidra’s offering, is extensive and includes a wide range of products, such as starting blocks, rails, ladders, slides, diving boards, ADA-compliant lifts, swimwall systems, thermal cover systems and in-pool furniture.

Headquartered in the US state of Oregon, S.R. Smith operates manufacturing facilities from multiple locations in the USA and Australia with its products supported by distributors around the world, with a focus in the United States, Australia, Canada and Europe.

In Australia, the S.R. Smith business includes Sunbather, one of the country’s leading suppliers of heating solutions and pool covers.

With the addition of SR Smith’s footprint in Australia, Fluidra will further expand its extensive existing operational network, increasing the company’s overall product delivery capability.

The acquisition from US-based private equity fund Champlain Capital, was valued at US$240 million and was fully settled at closing with existing cash and debt facilities.

Announcing the acquisition overnight, Fluidra Chief Executive, Bruce Brooks stated “our ultimate goal is to be the best partner in the industry for our customers.

“In the past year, we’ve doubled down on our commitment to grow in different market segments and product categories and have made several strategic acquisitions to bring us closer to that goal.

“This latest acquisition of S.R.Smith doesn’t just move us one step closer, it propels us. S.R. Smith is an exceptional company with a talented team and stellar reputation. Their specialised expertise and comprehensive portfolio of products will accelerate our future growth into the commercial and residential pool segments and will ultimately allow us to better serve our customers in North America and around the world.”

S.R.Smith Chief Executive, Rich Laitta noted “we are excited to join the Fluidra family. 

“With their strong dedication to meeting customer needs, focus on innovative solutions and services, and global market expertise, we believe this move will facilitate the next evolution of growth for S.R. Smith.”

Keith Hall, Managing Director at S.R. Smith Australia, also welcomed the acquisition, commenting “it was through the acquisition of a commercial pool equipment manufacturing business in late 2013 that laid the company’s foundation down-under.

“Additional acquisitions, channel expansion and new product innovations helped S.R. Smith expand their footprint across Australia. Joining the Fluidra family helps S.R. Smith Australia support their clear vision for global growth, importantly this includes Oceania.

“The commitment that Fluidra has to the Australian swimming pool industry must be acknowledged and applauded.”

Sunbather Managing Director, Tom Boadle went on to say "Sunbather is a 47 year old business and it feels like we are just getting started.

“We are pleased to be joining the Fluidra group as our Brand, People & Products are all striving for greatness which will be accelerated by this acquisition. Sunbather's unique and innovative range of products will help fill a gap for Fluidra and our team is highly enthusiastic about global reach opportunities, and working with such an accomplished company as we move into the future."

Following the acquisition, S.R. Smith and Sunbather will continue to operate in an independent manner out of its Richlands (Queensland) and Hastings (Victoria) head-offices, respectively.

A Spanish listed firm, Fluidra is the global leader in the pool and wellness equipment business. It provides innovative products, services and Internet of Things (IoT) solutions.

The company operates in over 45 countries and owns a portfolio of some of the industry’s most recognised and trusted brands, including AstralPoolⓇ, ZodiacⓇ, PolarisⓇ, CepexⓇ, JandyⓇ, BarracudaⓇ and MagnapoolⓇ.

For more information on Fluidra, click here to visit their listing in the Australasian Leisure Management Supplier Directory.

Images: S.R.Smith's Velocity starting block (top) and Fluidra's OC-1 filtration media (below).

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