Fluidra acquires SR Smith for $US240 million

Fluidra, the Spanish listed global leader in pool and wellness equipment and connected solutions, has acquired US-based commercial and residential pool deck equipment manufacturer SR Smith from Champlain Capital, a private equity fund based in San Francisco and Boston.

The acquisition was valued at $US240 million and was fully settled at closing with existing cash and debt facilities.

In Australia, Fluidra will further expand its extensive existing operational network through the acquisition, increasing the company’s overall product delivery capability. SR Smith has an office in Brisbane, and acquired Australian company Anti Wave in 2013, certain assets from AFP in 2015, and purchased Australian solar heating pioneer and pool cover specialist, Sunbather in 2019, which has an office and manufacturing facilities in Victoria.

“It was through the acquisition of a commercial pool equipment manufacturing business in late 2013 that laid the company’s foundation down-under,” says Keith Hall, SR Smith Australia managing director.

“Additional acquisitions, channel expansion and new product innovations helped SR Smith expand their footprint across Australia. Joining the Fluidra family helps SR Smith Australia support their clear vision for global growth, importantly this includes Oceania. The commitment that Fluidra has to the Australian swimming pool industry must be acknowledged and applauded.”

Tom Boadle, Sunbather managing director says that although Sunbather is a 47-year-old business, it feels like they are just getting started.

“We are pleased to be joining the Fluidra group as our brand, people and products are all striving for greatness which will be accelerated by this acquisition,” he says.

“Sunbather’s unique and innovative range of products will help fill a gap for Fluidra and our team is highly enthusiastic about global reach opportunities, and working with such an accomplished company as we move into the future.”

Following the acquisition, SR Smith and Sunbather will continue to operate in an independent manner out of the Richlands (Queensland) and Hastings (Victoria) head-offices respectively.

Doubling down

“Our ultimate goal is to be the best partner in the industry for our customers,” says Bruce Brooks, Fluidra CEO.

“In the past year, we’ve doubled down on our commitment to grow in different market segments and product categories and have made several strategic acquisitions to bring us closer to that goal. This latest acquisition of SR Smith doesn’t just move us one step closer, it propels us,” he says.

“SR Smith is an exceptional company with a talented team and stellar reputation. Their specialised expertise and comprehensive portfolio of products will accelerate our future growth into 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,” says Rich Laitta, SR Smith CEO.

“With their strong deducation 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 SR Smith.”

SR Smith’s product portfolio is complementary to Fluidra’s offering and includes a wide range of products such as starting blocks, rails, ladders, slides, diving boards, ADA-compliant lifts, swimwall systems, thermal cover systems and in-pool furniture.

About the companies

Headquartered in Oregon, USA, SR Smith operates manufacturing facilities from multiple locations in the USA and Australia. Their products are supported by distributors around the world, with a focus in the United States, Australia, Canada and Europe. In Australia, the SR Smith business includes Sunbather, one of the country’s leading suppliers of heating solutions and pool covers.

Fluidra, a Spanish listed firm, is the global leader in the pool and wellness equipment business. It provides innovative products, services and Internet of Things (IoT) solutions. The company operates in more than 45 countries and owns a portfolio of some of the industry’s most recognised and trusted brands, including AstralPool, Zodiac, Polaris, Cepex, Jandy, Barracuda and Magnapool.