Global pool products maker Fluidra has purchased Custom Molded Products (CMP), whose product offerings include sanitizing systems, LED lights, waterfeatures and fire elements, among others.
Fluidra, a publicly traded company, purchased CMP from Tenex Capital Management for $245 million.
Tom MooreCEOCMP
“CMP is a great fit — commercially, operationally and culturally — and a valuable extension to Fluidra’s existing North American operation,” said Fluidra CEO Bruce Brooks. “This acquisition allows us to expand our product portfolio in strategic areas to better meet customer demand, as well as by entering the new spa OEM market.”
Based in Newnan, Ga., CMP had made a number of its own acquisitions in recent years, including DEL Ozone, Aqua Sun Ozone, and Bobe Water & Fire.
Additionally, CMP brings the Brilliant Wonders line of LED lights, Natural Wonders waterfeatures, Spa Master spa systems, Hydroseal pool valves, and various accessories, skimmers and replacement parts.
Fluidra says the move will help it to rapidly expand its offerings in strategic growth categories such as alternative sanitizers, white goods and dedicated spa equipment. The white goods will support the Jandy equipment line, the company added. Fluidra characterized spa equipment as “a substantial adjacent segment and opportunity for the company.”
Barcelona-based Fluidra expects the purchase to show immediate benefits to the company, so it is raising its 2021 guidance. Expected sales growth has increased from a range of 6-9% to a range of 12-15%.
“CMP’s product strengths, coupled with its operational and manufacturing expertise, will help Fluidra accelerate growth by providing its customers with a wider range of pool and spa technologies as well as through increased product delivery capabilities,” the company said in a press release.
CMP’s staff and operations will remain in Georgia, Fluidra said. Moore will continue to run CMP under its new ownership.
Fluidra entered the U.S. market in 2018, when it merged with “Big 3” manufacturer Zodiac Pool Systems. Its U.S. headquarters are based in Carlsbad, Calif.
