Founded in 1925, Elizabeth, New Jersey-headquartered Hayward Industries is a global manufacturer of residential and commercial pool equipment and industrial flow control products with facilities in the US, Canada, France, Spain, China and Australia. Hayward’s pool equipment includes pumps, filters, heaters, cleaners, salt chlorinators, automation, lighting, safety and flow control products. Filter brands include Perflex, StarClear, EasyClear and ProGrid.
Hayward has delivered average annual growth of more than 10% since the Davis family initially acquired control of the business in 1964. The company has grown organically and through a number of strategic acquisitions in North America, Canada, Europe and Australia. Recent acquisitions include the 2016 purchase of Kripsol, a Spanish manufacturer of residential and commercial pumps and filters.
“I am extremely proud of the accomplishments realized by our team in positioning Hayward as a leading provider of pool equipment throughout the world. As I approach retirement, I am very confident this next generation of ownership will carry on the Hayward tradition and that our legacy is in excellent hands,” said Robert Davis, co-chairman of the board of Hayward.
Clark Hale, president and CEO of Hayward, said: “Hayward and its employees are forever grateful for the vision and leadership that Oscar and Robert Davis have provided. We now look forward to partnering with CCMP and MSD Partners to continue our investments in product innovation, geographic expansion, and synergistic acquisitions.”
“We are thrilled to partner with Clark and his team to acquire Hayward, which has built an outstanding leadership position and brand loyalty in the pool equipment market. Through two generations of Davis family leadership, the company has grown from a regional pool equipment supplier to a global leader with a track record of product innovation and world class supply chain and manufacturing capabilities,” said Mark McFadden, a managing director at CCMP. “We look forward to working with Clark and his highly talented team to build on the company’s outstanding record of growth.”
“We are delighted to have the opportunity to partner with Hayward’s management, in this seminal event in the company’s distinguished history, and we are pleased to be trusted with the stewardship of the business in the next chapter of its evolution,” said Kevin Brown, a managing director in the Private Capital Group at MSD Partners. “Hayward is a perfect fit with MSD Private Capital Group’s strategy of investing in companies that can deliver stability and growth over the long term, and we look forward to supporting its continued growth.”
The transaction is expected to close in the third quarter of 2017, subject to customary closing conditions.
Goldman Sachs is serving as financial advisor to Hayward, with McCarter & English LLP acting as legal counsel.
