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Narellan Pools partners with US giant Latham Pool Products Narellan Pools has forged a partnership with North America’s largest manufacturer of swimming pools, pool accessories and components – New York-based Latham Pool Products. Latham has made a strategic investment in Narellan Pools to share IP, develop new technology and drive growth in the domestic and global swimming pool industry. Latham is owned by private equity firms Pamplona Capital Management and Wynnchurch Capital, and as part of the deal, long-time Narellan managing director Chris Meyer now also owns part of Latham. Others in the Latham management team have also invested in the company. The objectives of the partnership are to accelerate the growth of the fibreglass industry throughout North America and globally, and to continue the strong growth of Narellan Pools in the Australian and New Zealand markets. The Narellan Group is a leading fibreglass pool manufacturer, franchisor and exporter with an enviable growth record locally and includes the company’s Australian, New Zealand and Canadian franchises, manufacturing businesses and export operations. Meyer says there will be synergies to bring some Latham product to Australia. “They do have some great products and innovations – but we’re just looking at what works
for each other. The DNA of Latham is rooted in quality and they are a brilliant company with great values, so we’re working out the best ways we can work together on the global market – a true form of partnership in a very positive way,” he says. “It will be business as usual in Australia, New Zealand and Canada, while building growth in an accelerated but intelligent way through this synergistic partnership, and improve both our industries.”
Growth strategies
Meyer will continue to lead these markets and, as a shareholder in the new enlarged Latham family, will also drive the fibreglass pool expansion into the United States. “Latham has invested in Narellan to grow the business here, and also to accelerate the growth of the fibreglass industry throughout North America,” says Meyer. “They’ve identified we are the best at what we do, and it is my job it to help develop and lead the strategy by applying my learnings from 30 years in the pool industry.” The partnership with Narellan Pools will support Latham Pool Products’ continued growth by opening new markets around the globe, and by expanding its industry-leading manufacturing capabilities. “Australia leads the world in fibreglass swimming pools,”
Meyer says. “For me it’s about rolling out the brand and our current business model into the North American market, which includes our marketing strategy, sales processes and network building, while accelerating the growth in the Australian market which means maintaining our goal of doubling our current Australian sales in the next few years.”
Unlocking potential
Meyer says his team knows how to unlock the potential within a market. “The Australian market has grown about eight percent over the past six years and we’ve grown in excess of 150 per cent over the same time. We plan to keep doing that.” Australia is a world leader in fibreglass swimming pool technology, with Meyer estimating the penetration rate of fibreglass in Australia as approximately 70 per cent and growing. This is compared to between 10 per cent and 20 per cent in North America. He says this is similar to the Australian market in the 1980s and he will work closely with Latham to provide strategic leadership to unlock the fibreglass market in North America. “We’re incredibly proud to have built the biggest and best pool brand in Australia and New Zealand and we are excited to join forces with North America’s
Long-time Narellan managing director Chris Meyer
leading pool company,” he says. “This partnership allows us to maintain our strong manufacturing base in Australia, with added resources to aid our innovative research and development program and look for alternative ways to accelerate our domestic growth. We have found a partner who shares our purpose and values, and most importantly our vision of building the world’s biggest and most loved pool brands. “I am delighted with the opportunities this partnership gives our incredibly passionate people, both in manufacturing and franchise. I am proud of our humble beginnings in a chicken shed in the suburb of Narellan in 1972 and it’s wonderful to be recognised on the global stage. Through our partnership with Latham, we can now transform the global swimming pool industry and I can realise the goal I’ve had for over 20 years. It’s exciting to know, after 47 years, we are just getting started.”
The partners Narellan Pools Established more than 47 years ago, Narellan Pools began as a small, fibreglass swimming pool manufacturing business in Sydney’s south west. Today, Narellan Pools has a network of qualified pool builders in 90 regions across Australia, New Zealand and Canada, with a global presence which extends into the South Pacific, Middle East, North America and Asia.
Latham Pool Products Latham Pool Products was founded in 1956. With 1300 employees, it is the largest manufacturer of swimming pool components and pool accessories in North America, sold
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primarily to the in-ground pool market, and has more than 21 manufacturing locations in the US and Canada. It is a Pamplona Capital Management portfolio company.
Pamplona Capital Management Pamplona Capital Management is a specialist investment manager established in 2005 with offices in New York, London, Madrid, and Malta, managing more than $US12 billion in assets for a variety of clients.
Wynnchurch Capital Wynnchurch Capital manages a number of private equity funds with $US2.2 billion of committed capital under management.