Photo courtesy Hydropool Hot Tubs

Hydropool Hot Tubs, which offers five hot tub brands and four swimspas, has spoken out to clear up misconceptions regarding the company's sale in January.

In the wake of recent rumours and miscommunications, the management of Hydropool Hot Tubs is speaking out to clarify details of the company's recent ownership change.

"Hydropool has been working with its senior lender, financial partners and advisors over the last few months and determined that the most efficient and effective way to transfer ownership to a new group and buy out the senior debt holder was through a quick flip receivership," the company stated in a recent press release. "As such, a receiver was appointed by the court at the owners request and the court then immediately approved the sale of the company to the new ownership group." David Jackson, Hydropool's president and CEO, and Stephane Barralis, purchased the Mississauga, Ont.-based company from their financial partners on January 18.

In the release, the company stressed that the receiver never took possession of Hydropool and that operations were never suspended. A scheduled Christmas shutdown of the company's plant was unrelated to the ownership change.

"From a practical standpoint, nothing has changed other than the ownership and business is carrying on as usual," the company added. "Our factory is producing and shipping hot tubs everyday."

For more information, customers can visit www.hydropoolhottubs.com/news.