ELIZABETH, N.J., June 19, 2017 (GLOBE NEWSWIRE) -- Hayward Industries, Inc. (“Hayward” or “the Company”) today announced that a partnership led by CCMP Capital Advisors, LP and MSD Partners, L.P. and including Alberta Investment Management Corporation, has entered into a definitive agreement to acquire Hayward.
Founded in 1925, Hayward is a global market leader in the residential and commercial swimming pool equipment industry with the most recognized brand and largest installed base in North America. Under the Davis family leadership for more than 50 years, Hayward has grown through organic development and strategic acquisitions to expand its product offering to include a complete line of pumps, filters, heaters, cleaners, sanitizers, IoT driven automation and controls, lighting and accessories, and has built its global footprint through acquisitions in North America, Canada, Europe and Australia. Driven by its superior engineering and manufacturing capabilities, customer relationships and successful acquisition integration, Hayward has achieved an average annual growth rate above 10% since the Davis family initially purchased control of the business in 1964.
“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 Robert Davis, Co- Chairman of the Board of Hayward. Clark Hale, President and CEO of Hayward added, "Hayward and its employees are forever grateful for the vision and leadership that 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.”
“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. Through two generations of Davis family leadership, the Company has grown from a regional pool equipment supplier to a global leader with a track record of product innovation and world class supply chain and manufacturing capabilities,” said Mark McFadden, a Managing Director at CCMP. “We look forward to working with Clark and his highly talented team to build on the company’s outstanding record of growth.”
“We are delighted to have the opportunity to partner with Hayward’s management, in this seminal event in the Company’s distinguished history, and we are pleased to be trusted with the stewardship of the business in the next chapter of its evolution,” said Kevin Brown, a Managing Director in the Private Capital Group at MSD Partners. “Hayward is a perfect fit with MSD Private Capital Group’s strategy of investing in companies that can deliver stability and growth over the long term, and we look forward to supporting its continued growth.”
Recent acquisitions by Hayward Industries include Poolvergnuegen, a suction cleaner manufacturer in the United States, as well as 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.
In recent years, Hayward has introduced category leading products such as the OmniLogic® pool control system, TriStar® variable speed pumps which are rated highest in energy efficiency by the U.S. EPA, V-Flex pool cleaners, and HCP 3000 Series commercial pumps. The transaction is expected to close in the third quarter of 2017, subject to customary closing conditions. Goldman Sachs is serving as financial advisor to Hayward and McCarter & English, LLP is acting as legal counsel.
Hayward Industries, Inc. is a leading global manufacturer of residential and commercial pool equipment and industrial flow control products, with the most recognized brand in the industry. Headquartered in Elizabeth, NJ, Hayward markets a full line of energy efficient pool equipment including pumps, filters, heaters, cleaners, salt chlorinators, automation, lighting, safety and flow control products. Hayward products are sold worldwide, with facilities in the United States, Canada, France, Spain, China and Australia. Leading brands include AquaRite®, TurboCell®, CAT Controllers®, TriStar®, TriVac™, PoolVac V-Flex®, Navigator®, HydroRite™, Super Pump®, MaxFlow™, PowerFlo®, StarClear™, Sense and Dispense®, PowerFlo®, and OmniLogic®. For more information contact Hayward at (908) 351-5400 or visit Hayward.com.
About CCMP Capital
CCMP Capital Advisors, LP (“CCMP”) specializes in middle market buyouts and growth equity investments of $100 million to $500 million in North America and Europe. CCMP focuses on generating alpha through the operational transformation and growth of its portfolio companies. With offices in New York, Houston and London, CCMP invests in three primary industries: Consumer/Retail, Industrial, and Healthcare. Selected investments include: Truck Hero, Badger Sportswear, The Hillman Group, Jamieson Laboratories, Jetro Cash & Carry, Milacron, PQ Corporation, Pure Gym, Shoes For Crews, Generac and Edwards.
About MSD Partners, L.P.
MSD Partners, L.P., an SEC-registered investment adviser, was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital. MSD Capital was established in 1998 to exclusively manage the capital of Michael Dell and his family. MSD Partners utilizes a multi- disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the equities of public and private companies, credit, real estate and other asset classes and securities. MSD Private Capital Group leads MSD Partners’ control equity and structured preferred investments. MSD Partners’ team operates from the firm’s offices in New York and London. For further information about MSD Partners and the MSD Private Capital Group, please see www.msdpartners.com and www.msdprivatecapital.com.
About Alberta Investment Management Corporation
Alberta Investment Management Corporation, AIMCo, is one of Canada’s largest and most diversified institutional investment managers with assets under management in excess of C$100 billion. AIMCo, established on January 1, 2008, invests globally on behalf of 32 pension, endowment and government fund clients in the Province of Alberta. AIMCo’s head office is located in Edmonton, Alberta, and has additional offices with investment teams located in Toronto, Ontario and London, United Kingdom. AIMCo’s Private Equity team comprises a dedicated group of experienced investment professionals and manages a private equity allocation of approximately C$4.0 billion.
For more information, contact: Dave MacNair Phone: 908.351.5400 Email: firstname.lastname@example.org
Source: Hayward Industries, Inc