Wynnchurch Capital has acquired Latham International from Littlejohn & Co. LLC. No financial terms were disclosed. Moelis and William Blair provided financial advice to Littlejohn on the transaction. Latham International is a maker of packaged and fiberglass pools, safety covers, and related pool products.
GREENWICH, CT, August 7, 2015 – Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today the sale of Latham International, a leading North American manufacturer of packaged and fiberglass pools, automatic safety covers, and related pool products, to Wynnchurch Capital.
Latham International, Inc. is the largest manufacturer of pool components and accessories in North America. The Company’s product offering includes in-ground vinyl pool liners, above-ground vinyl pool liners, polymer and steel pool wall systems, fiberglass pools, steps and ladders, pool safety covers, and other pool related accessories. The Company’s products are sold primarily to the in-ground pool market. The Company has manufacturing facilities and distribution centers located across the U.S. and Canada.
Littlejohn acquired Latham in 2010 following a Chapter 11 restructuring and worked closely with CEO Mark Laven to strengthen the company’s management team and successfully execute five acquisitions, among other initiatives. Latham also greatly expanded its brand presence among dealers.
Steven Raich, Managing Director of Littlejohn said, “We are very pleased with this outcome which reflects the successful completion of Littlejohn’s strategy to leverage the combined skills of our financial restructuring and operating resources to drive growth and profitability. Latham has served as a strong platform to integrate a number of key acquisitions and we are proud of the job the Latham management team has done.”
“Latham is a much stronger and different company today than it was five years ago. I am very appreciative of all the support Littlejohn has provided us over their investment period, and I believe Wynnchurch has an opportunity to help accelerate our growth strategy going forward,” said Mr. Laven.
Morrison Cohen provided legal advice to Littlejohn in connection with the transaction and Moelis and William Blair served as financial advisors.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.