Fluidra Continues Strategic Expansion with Acquisition of Taylor Water Technologies LLC

Rhea-AI Summary

Fluidra has acquired Taylor Water Technologies for $78 million, a significant move to enhance Fluidra's offerings in the pool and wellness sector. Taylor, renowned for its water-testing solutions, generated $26 million in sales over the past year, with an EBITDA of $8.5 million. The acquisition is expected to be cash EPS accretive for Fluidra in 2021, strengthening its innovation capabilities and market position in North America and beyond. Taylor will maintain its operational independence and continue to be led by its current CEO, Stephen Heard.

Positive

• Acquisition valued at $78 million, expected to be cash EPS accretive in 2021.
• Taylor's expertise in water chemistry testing enhances Fluidra’s product innovation potential.
• Expansion of Fluidra’s portfolio with nearly 600 Taylor test-kit configurations.
• Established distribution network across the US, Canada, and Mexico to support growth.

Negative

• None.

• Addition of the US-based manufacturer of test kits, test strips, and instruments for monitoring water quality is complementary to and will further enhance Fluidra’s industry-leading offering for residential and commercial pools.

• Taylor’s expertise in water chemistry testing will enable Fluidra to innovate in new product categories, providing substantial growth opportunities in the US and abroad.

• The acquisition values Taylor at $78 million and is expected to be cash EPS accretive to Fluidra in 2021.

BARCELONA, Spain--(BUSINESS WIRE)-- Fluidra, a worldwide leader in the pool and wellness industry and global manufacturer of equipment and connected solutions, today announced it has acquired Taylor Water Technologies LLC (Taylor), a leading US-based manufacturer of water-testing solutions.

Taylor, the foremost brand in water testing, joins Fluidra’s family of already distinguished brands, including Jandy^®, Polaris^®, iAquaLink^®, and SR Smith^®. The addition of Taylor’s highly trusted water-testing kits, strips, and instruments in North America not only broadens Fluidra’s rapidly growing portfolio of pool and spa products and solutions, but also provides an established foundation in water testing from which the company can build upon with future innovations.

Founded in 1930 and based out of Sparks, Maryland, Taylor is the recognized leader in water-testing kits and reagents in the residential and commercial pool segments. With a catalog of nearly 600 test-kit configurations, their products are carried by over 400 distributors throughout the US, Canada, and Mexico with growing positions outside of North America. The previous 12 month’s sales totaled $26 million with an EBITDA of $8.5 million.

“This is an important acquisition for Fluidra and will greatly enhance our offering,” said Bruce Brooks, chief executive officer of Fluidra. “Taylor is the most trusted name in water testing within North America, and their expertise, coupled with Fluidra’s track record of delivering new equipment and IoT solutions, will pave the way for future innovations that make managing watercare easier for both pool professionals and pool owners.”

“It’s exciting to become a part of Fluidra,” said Stephen Heard, chief executive officer of Taylor. “We each bring unique expertise as part of the large, multi-segment pool market and are focused on combining those building blocks to provide best-in-class solutions for our customers.”

Following the acquisition, Taylor will continue to operate independently as a business within Fluidra. Stephen Heard will continue to lead Taylor as its Senior Vice President and General Manager and will report to Troy Franzen, President of Fluidra North America. The Taylor team and its base of operations will remain in Maryland.

McGuireWoods acted as legal advisor to Fluidra. Stephens acted as sell-side advisor to Taylor, while Lowenstein Sandler acted as their legal advisor.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103006240/en/

Media:

Global:

Sarah Estébanez, sestebanez@tinkle.es, +34 636 62 80 41

Xana Pena, xpena@tinkle.es, +34 674 73 47 82

Laura Gil, lgil@tinkle.es, +34 673 631 814

North America:

Jacquie Edelman, jedelman@fluidra.com, 760 390 1458

Source: Fluidra

FAQ

What is the purpose of Fluidra's acquisition of Taylor Water Technologies?

The acquisition aims to enhance Fluidra's product offerings in water quality monitoring and expand its market reach.

When was the acquisition of Taylor Water Technologies announced?

The acquisition was announced on November 3, 2021.

How much did Fluidra pay for Taylor Water Technologies?

Fluidra acquired Taylor Water Technologies for $78 million.

What are the expected financial benefits of the acquisition for Fluidra?

The acquisition is expected to be cash EPS accretive for Fluidra in 2021.

Who will lead Taylor Water Technologies after the acquisition?

Stephen Heard will continue to lead Taylor as its Senior Vice President and General Manager.