Initial Public Offering

Industrial
Consumer
Initial Public Offering

Summary

Baird served as a bookrunner on this offering

About

Latham Group, Inc. (“Latham” or the “Company”) (NASDAQ: SWIM), a portfolio company of Pamplona Capital Management, LLC (“Pamplona”) and Wynnchurch Capital, L.P. (“Wynnchurch”), recently completed an initial public offering of 23,000,000 common shares, including the exercise of the full over-allotment option, at a price of $19.00 per share. The offering generated gross proceeds of $437.0 million. The Company used the net proceeds from the initial public offering to repay certain indebtedness, to purchase shares of common stock from its principal stockholders and for general corporate purposes.

Latham is the largest designer, manufacturer and marketer of in-ground residential swimming pools in North America, Australia and New Zealand. The Company holds the #1 market position in North America in each product category that they compete. Latham has become one of the most sought after brands in the pool industry by establishing direct relationships with homeowners over the past 60 years. Latham offers the industry’s broadest portfolio of pools and related products, including in-ground swimming pools, pool liners and pool covers. In 2020, Latham sold over 8,700 fiberglass pools in the United States, which represents approximately one out of every ten in-ground swimming pools sold in the United States. The Company is headquartered in Latham, New York.

Pamplona is a specialist investment manager founded in 2005 that provides an alternative investment platform across private equity investments. Pamplona manages over $7 billion in assets for its limited partners. Pamplona invests long-term capital primarily in North America and Europe, and is headquartered in London, the United Kingdom.

Wynnchurch was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch manages a number of private equity funds with $4.2 billion of committed capital under management and is headquartered in Rosemont, Illinois.
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Industrial
Consumer
Initial Public Offering
Date
April 2021
Company
Latham Group, Inc.
Transaction
M&A
Sectors
Industrial
Consumer
Target Location
North America

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