Investment group acquires Hayward Industries

by jason_cramp | June 19, 2017 10:22 am

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A partnership led by CCMP Capital Advisors L.P., MSD Partners L.P., and Alberta Investment Management Corp., has entered into an agreement to acquire Hayward Industries Inc.

Founded in 1925, Hayward is a manufacturer of residential and commercial pool equipment and offers one of the most recognized brands in North America. Under the Davis family leadership for more than 50 years, the company has grown through organic development and strategic acquisitions to expand its product offering to include a complete line of pumps, filters, heaters, cleaners, sanitizers, Internet of Things (IOT) driven automation and controls, lighting and accessories.

Since the Davis family initially purchased control of the business in 1964, Hayward has achieved an average annual growth rate above 10 per cent.

“I am extremely proud of the accomplishments realized by our team in positioning Hayward as a leading provider of pool equipment throughout the world. As I approach retirement, I am very confident this next generation of ownership will carry on the Hayward tradition and that our legacy is in excellent hands,” said Hayward’s co-chair Robert Davis.

The company’s president and CEO added: “Hayward and its employees are forever grateful for the vision and leadership Oscar and Robert Davis have provided. We now look forward to partnering with CCMP and MSD Partners to continue our investments in product innovation, geographic expansion, and synergistic acquisitions.”

According to Hayward Pool Products Canada’s director of sales and marketing, Tim Pettman, the company’s business operations in Canada will continue as usual and the current management team will remain intact.

“We will continue to focus on providing our Canadian customers with the same innovative, quality products and exceptional service they have come to appreciate from Hayward,” said Pettman.

Through two generations of Davis family leadership, the company has grown from a regional pool equipment supplier to a global leader in product innovation, manufacturing and distribution, said CCMP’s managing director Mark McFadden.

“We are thrilled to partner with Clark and his team to acquire Hayward, which has built an outstanding leadership position and brand loyalty in the pool equipment market,” he added. “We look forward to working with Clark and his team to build on the company’s outstanding record of growth.”

Kevin Brown, a managing director in the private capital group at MSD Partners said Hayward is a perfect fit with the firm’s strategy of investing in companies that can deliver stability and growth over the long term and looks forward to supporting its continued growth.

The third partner, Alberta Investment Management Corp., is one of Canada’s largest institutional investment managers with assets under management in excess of $100 billion. The company’s head office is located in Edmonton, Alta., and has additional offices in Toronto, and London, U.K.

Recent acquisitions by Hayward Industries include Poolvergnuegen, a suction cleaner manufacturer in the U.S., Kripsol, a Spanish-based manufacturer of residential and commercial pumps and filters, and Sugar Valley, a Spanish-based manufacturer of intelligent automation systems, water chemistry, and sanitization products.

Source URL: https://www.poolspamarketing.com/trade/investment-group-acquires-hayward-industries/

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