O2 Forms New Pool Services Platform
July 11 2024 - 6:00AM
Business Wire
O2 Investment Partners (www.o2investment.com) announced today
that it has invested in and partnered with The Aqua Doctor
(www.theaquadoctor.com), Chaikin Ultimate Pools
(www.chaikinultimategroup.com), Cool Pool & Spa
(www.coolpool.com), Gorlin Pools and Spas (www.gorlinpools.com),
and Rainbow Pools (www.rainbowpools.com) to form a new pool
services platform. The platform and partnership will help support
the companies’ aggressive organic and M&A growth strategy.
Terms of the investments were not disclosed.
The combination brings together five best-in-class companies to
create a leading pool services platform that serves customers
throughout New York and New Jersey. The platform’s member companies
share a resolute focus on service quality and customer service and
offer a comprehensive suite of services, including pool maintenance
and repair, pool and equipment upgrades and renovations, and pool
design and building. The management team has always taken an active
role in pool industry volunteer and leadership positions, striving
to make the industry better and safer for all participants, which
will be further amplified by this partnership.
The leadership groups have maintained significant ownership in
the platform, and each member company will continue to be led by
its current management teams. The companies will be supported by an
executive leadership team led by CEO John Tisera, which will help
drive growth and integration.
“Each member of this group has been individually successful over
the past many decades, but together we had a vision that if we
could combine forces, the whole would be greater than the sum of
our parts,” said Kyle Chaikin, Co-President of Chaikin Ultimate
Pools. “O2 was the perfect partner because they embraced our
vision, and their investment will provide access to shared
resources, technology, and operational excellence that will take us
to new heights.”
William Laffrey at O2 commented, “We are thrilled to partner
with this group of highly-skilled operators with industry-leading
reputations. We believe there are significant tailwinds driving
growth for pool care, and we are fortunate to have found such
strong operators and look forward to building an industry leader
together.”
The pool services platform is the fifth platform investment for
O2’s most recent fund, O2 Investment Partners Fund IV.
The partnership was made possible by PennantPark Investment
Advisors, LLC, who provided financing for the transaction.
About the Platform The platform is composed of five
leading, independent, full-service pool service and installation
companies operating throughout New York and New Jersey. The
platform collectively offers a comprehensive suite of services,
including pool maintenance and repair, pool and equipment upgrades
and renovations, and pool design and building. The platform is
growing its footprint throughout the United States and is actively
engaging in partnership discussions with operators looking to
accelerate growth.
About O2 Investment Partners O2 Investment Partners is a
Midwestern based private equity firm that seeks to invest in lower
middle market B2B services, technology, and select industrial
companies. The firm invests in businesses with earnings growth
potential and a clear path to the creation of shareholder value. O2
invests with a view toward partnering with management to build and
grow the business and take it to its next stage of development.
This requires not only a clear vision and strategic plan to create
shareholder value, but a close partnership and alignment of
interest with management. Additional information is available at
www.o2investment.com.
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O2 Investment Partners William Laffrey
wlaffrey@o2investment.com