Latham Pool Products, which is backed by Pamplona Capital Management and Wynnchurch Capital, has named James E. Cline to its board of directors. Since May 2015, Cline has served as president and CEO of Trex Company Inc. Based in Latham, New York, Latham is a manufacturer of in-ground residential swimming pools.
LATHAM, New York, July 8, 2019 /PRNewswire/ — The Board of Latham Pool Products, Inc. (“Latham” or “the Company”) is pleased to announce the appointment of James E. (Jim) Cline as a Non-Executive Director of the Company.
Since May 2015, Mr. Cline has served as President and CEO of Trex Company, Inc. (“Trex”), the world’s largest manufacturer and leading brand of high-performance, low maintenance outdoor living products, including composite decking, railing, deck lighting and steel deck framing. Stocked in more than 6,700 retail locations worldwide, Trex outdoor living products offer a wide range of style options with fewer ongoing maintenance requirements than wood, as well as a truly environmentally responsible choice. Mr. Cline joined Trex as CFO in March 2008 and has been instrumental in growing the business into the industry’s undisputed global leader.
Prior to Trex, Mr. Cline held a number of senior roles within the manufacturing industry. From 2005 to 2007, he served as President of Harsco GasServ, the gas technologies business group of Harsco Corporation, having been Vice President and Controller for the Company from 1994 to 2005. Mr. Cline holds a BSBA degree in Accounting from Bowling Green State University.
Led by CEO Scott Rajeski, Latham is the leading manufacturer of pool components and accessories in North America. The Company’s industry leading, branded product offering includes fiberglass pools, automatic safety covers, in-ground vinyl pool liners, polymer and steel pool wall systems, and other related accessories. The Company has more than 20 manufacturing facilities and distribution centers across the U.S. and Canada. Earlier this month, Latham announced its investment in Narellan Pools, the largest pool supply company in Australia and New Zealand.
Russell Gehrett, Partner at Pamplona Capital Management, commented on the appointment of Mr. Cline as Director,
“We are excited to add such an accomplished professional to our Board. Mr. Cline brings a demonstrated track record in the consumer durables sector and a deep understanding of the work required to disrupt a market with an innovative product offering.”
Mark Laven, Latham’s Chairman, added, “Mr. Cline has tremendous and relevant commercial experience, particularly in driving material conversion through a market. His counsel and commercial experience will be a strong addition to the Board.”
Commenting on his appointment, Mr. Cline said, “It is an honor to join the Latham board. The market opportunity for the Latham product portfolio is significant and there are a number of similarities between Trex and Latham’s fiberglass pool business. I look forward to working with Mark, Scott and the rest of the Board to continue growing the business.”
Pamplona Capital Management acquired a controlling interest in Latham in December 2018 from its fifth private equity fund, Pamplona Capital Partners V, L.P., a $3.2 billion investment vehicle raised in 2017.
About Pamplona Capital Management:
Pamplona Capital Management is a specialist investment manager established in 2005 that provides an alternative investment platform across private equity and other diversified strategies. With offices in New York, London, Madrid, Boston and Malta, Pamplona manages over $12 billion in assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices, and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.