Fluidra Acquires S.R. Smith

Fluidra S.A., the Spanish-listed global leader in pool and wellness equipment and connected solutions, announced it acquired S.R. Smith, a US-based manufacturer of commercial and residential pool deck equipment and accessories, from Champlain Capital, a private equity fund based in San Francisco and Boston. 

Founded in 1932, S.R. Smith is a leading global manufacturer specializing in commercial and residential pool deck equipment and accessories.  

Its product portfolio, which is complementary to Fluidra’s offering, is extensive and includes starting blocks, rails, ladders, slides, diving boards, ADA-compliant 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.  

Its products are supported by distributors around the world, with a focus on the United States, Australia, Canada and Europe. With the addition of S.R. Smith, Fluidra will further expand its existing operational network, increasing the company’s overall product delivery capability. 

The acquisition was valued at $240 million and was fully settled at closing with existing cash and debt facilities.  

The transaction is expected to be accretive to Fluidra’s cash EPS from day one. Fluidra is raising its 2021 guidance based on the expected positive contribution from the S.R. Smith acquisition as follows: 

“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, CEO of Fluidra. “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.” 

Following the acquisition, S.R. Smith will continue to operate independently from its Oregon headquarters.