Hayward Completes $685 Million IPO
Hayward Holdings, Inc. (“Hayward” or the “Company”) (NYSE: HAYW), a portfolio company of CCMP Capital Advisors, L.P. (“CCMP”), MSD Partners, L.P. (“MSD Partners”) and Alberta Investment Management Corporation (“AIMCo”) recently completed an initial public offering of 40,277,778 common shares at a price of $17.00 per share. The offering generated gross proceeds of $684.7 million, including $377.4 million for the Company and $307.3 million for the selling shareholders. The Company expects to use the net proceeds of this offering to pay down existing debt along with other general corporate purposes.
Baird served as a bookrunner on this offering.
AboutHayward is an industry-leading global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems. With the pool as the centerpiece of the growing outdoor living space, the pool industry has attractive market characteristics, including significant aftermarket requirements, innovation-led growth opportunities and a favorable industry structure. Hayward is a leader in this market with a highly recognized brand, one of the largest installed bases of pool equipment in the world, decades-long relationships with key channel partners and trade customers and a history of technological innovation. Hayward’s engineered products, which include various energy efficient and more environmentally sustainable offerings, enhance the pool owner’s outdoor living lifestyle while also delivering high quality water, pleasant ambiance and ease of use for the ultimate backyard experience. Hayward Holdings, Inc. is headquartered in Berkeley Heights, New Jersey.
CCMP Capital Advisors is a private equity firm focused on making buyout and growth equity investments in North America, focused on three industries: consumer, industrial and healthcare. CCMP was founded in 2006 and is based in New York, New York.
MSD Partners, an SEC-registered investment adviser, was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital. MSD Capital was established in 1998 to exclusively manage the capital of Michael Dell and his family. MSD Partners is headquartered in New York, New York.
AIMCo is one of Canada’s largest and most diversified institutional investment managers. Established in 2008, in Edmonton, Alberta, Canada, AIMCo seeks to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of public pension, public endowment and government funds in the Province of Alberta.
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- March 2021
- Hayward Holdings, Inc.
- Equity Capital Markets
Specialty Materials & Chemicals
Water & Filtration
- Target Location
- North America