In a move that should surprise nobody, Fluidra a Pool Industry Swallows up another Household name in the Pool Water Testing World.
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.
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.
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.
*Main Content for this article provided by Marrianne Trusty & PoolMagazine.com
Link to original article: https://www.poolmagazine.com/news/press-releases/fluidra-continues-strategic-expansion-with-acquisition-of-taylor-water-technologies-llc/
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