Fluidra, a Spanish company offering pool and wellness equipment and solutions, has acquired S.R. Smith, a U.S.-based manufacturer of commercial and residential pool deck equipment and accessories.
Fluidra is acquiring from Champlain Capital, a private equity fund based in San Francisco and Boston.
Founded in 1932, S.R. Smith is a global manufacturer specializing in commercial and residential pool deck equipment and accessories. Its product portfolio includes starting blocks, rails, ladders, slides, diving boards, lifts, swimwall systems, thermal cover systems, and in-pool furniture.
Headquartered in Canby, Oregon, S.R. Smith operates manufacturing facilities from multiple locations in the United States and Australia. Their products are supported by distributors around the world, with focus in the United States, Australia, Canada, and Europe.
The acquisition was valued at $240 million, and Fluidra is raising its 2021 guidance based on the expected positive contribution from the S.R. Smith acquisition. The company is expecting sales to increase from 35 to 40 per cent to 37 to 42 per cent.
“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 strategic acquisitions in North America of Built Right Pool Heaters LLC’s business and Custom Molded Products LLC to bring us closer to that goal,” said Bruce Brooks, Fluidra CEO. “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 specialized expertise and comprehensive portfolio of products will accelerate our future growth in the commercial and residential pool segments and will ultimately allow us to better serve our customers in North America and around the world.”
“We are excited to join the Fluidra family,” said Rich Laitta, S.R. Smith CEO. “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.”
Following the acquisition, S.R. Smith will continue to operate independently from its Oregon headquarters.