Fluidra expands its presence in the United States and Australia and increases its global leadership in the pool sector. The listed Catalan group has announced the acquisition of 100% of S.R. Smith, a company specializing in the production of pool accessories and furniture founded in 1932 and which until now belonged to the private equity fund Champlain Capital. The operation is valued at 240 million dollars (203 million euros), which Fluidra has paid entirely in cash with the money it had in its coffers and with the debt lines it has available.
According to the company chaired by Eloi Planes, S. R. Smith is a complementary business that will accelerate Fluidra's growth in the United States, generate cost and sales synergies, and will result in an increase in the group's profit from day one. In the last twelve months, S.R. Smith has invoiced approximately 120 million dollars (102 million euros), a figure that the company has reached after having made several acquisitions in recent years, such as those of Stark Bulkeads, Sunbather, T-Star, and Interfab.
Headquartered in Canby (Oregon), S. R. Smith is one of the international benchmarks in outdoor material for commercial and residential pools. It manufactures starting blocks, slides, trampolines, handrails, movable walls, thermal covers, lane dividers, games, bridges, lifeguard chairs, and other types of furniture and pool access systems with lifts. The company has six factories, three of which are in the US and three in Australia. In the former country, the production centers are located in Canby (Oregon), Tucson (Arizona), and Orlinda (Tennessee); and in Australia in the cities of Richlands, Hastings, and Arlington. According to Fluidra, S. R. Smith has a "solid management team" and will continue to operate independently from its headquarters in Oregon.
"Our goal is to be the best partner in the industry for our customers. In the last year, we have redoubled our commitment to grow in different market segments and product categories and have made strategic acquisitions in North America with Built Right and CMP (Custom Molded Products) to get closer to that goal," explained Bruce Brooks, CEO of Fluidra.
"The acquisition of S.R. Smith ---adds the executive--- not only brings us closer, but propels us forward. It is an exceptional company with a highly talented team and a magnificent reputation. Their expertise and extensive product portfolio will accelerate our growth in the commercial and residential pool segments and, ultimately, allow us to better serve our customers in North America and around the world."
The group that owns the AstralPool, Polaris, Cepex, and Zodiac brands had a turnover of 1,488 million euros in 2020 thanks to its presence in 45 countries, an 8.8% increase. Its profits soared last year, reaching 96 million euros, due to the boom in residential pool construction stemming from the pandemic.