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Court OKs Latham's restructuring plan |
 Photo courtesy Latham International A restructuring plan between Latham International and its senior secured lenders has been approved by a U.S. Bankruptcy Court in Delaware. A restructuring plan between Latham International and its senior secured lenders to reduce the company's long-term debt has been approved by the U.S. Bankruptcy Court in Delaware. In the coming weeks, Latham will emerge from bankruptcy protection with its balance sheet lessened to the tune of $180 million. According to a report in the Times Union, an entity controlled by former senior lenders, including Littlejohn & Co., an investment bank in Greenwich, Conn., are the new owners. Latham will also use a $30-million revolving credit line from the Bank of America for its operations and seasonal working capital. The reorganization plan, along with Chapter 11 petitions incorporating the terms of the debt restructuring agreement, were filed on Dec. 22, 2009. Latham's Canadian-based subsidiaries were not included in the bankruptcy filing.
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May 10, 2012
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The 2012 annual issue of Pools, Spas & Patios, the only Canadian magazine targeted to the backyard leisure living market, will be available on newsstands May 14. |
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To reflect the company's new brand strategy, Pentair Water Pool and Spa Inc., a manufacturer/supplier of equipment and accessories for residential and commercial swimming pools in Sanford, N.C., has changed its name to Pentair Aquatic Systems.
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Genesis 3 Design Group recently hosted its first annual educational summit where its gold, platinum and Society of Watershape Designers (SWDs) members gathered to hear about changes within the group's structure. |
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In an effort to market its new concrete wall forming system to pool builders, landscapers and contractors, Spider Tie Canada Inc., recently held its second training event where builders from across Canada took part in constructing an entire swimming pool. |
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This year's Association of Pool & Spa Professionals' (APSP's) industry summit will focus on more than a year's worth of consumer research commissioned specifically for the pool and hot tub industry. |
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