Deal Details

Latham Completes $269 Million Follow-On Offering

Industrial
Consumer

Latham follow-on offering

Summary

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 a follow-on offering of 13,800,000 common shares, including the full exercise of the over-allotment option, at a price of $19.50. The offering generated gross proceeds of $269.1 million. The Company intends to use the net proceeds from the offering to purchase 13,800,000 shares of common stock from certain stockholders, primarily Pamplona and Wynnchurch.

Baird served as a bookrunner on this offering.

About

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. With an operating history that spans over 65 years, Latham offers the industry’s broadest portfolio of pools and related products, including in-ground swimming pools, pool liners and pool covers. Latham supports its dealer network with business development tools, co-branded marketing programs and in-house training, as well as a coast-to-coast operations platform consisting of over 2,000 employees across over 30 facilities. 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 $11 billion in assets for its limited partners. The firm 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 over $4 billion of committed capital under management and is headquartered in Rosemont, Illinois.

Industrial
Consumer

Latham follow-on offering