Latham Acquires Radiant Pools For $90M

Latham Group Inc SWIM has acquired Radiant Pools for ~$90 million, expanding its product portfolio into vinyl-lined, aluminum-walled swimming pools.
Radiant Pools uses patented technology derived from aerospace engineering to make structurally insulated wall panels. Radiant Pools generates ~$35 million in annual sales.
Latham Group held cash and cash equivalents of $90.9 million as of October 2, 2021. Latham Group funded the acquisition through a combination of existing cash and incremental borrowing under its revolving credit facility.
"Radiant Pools is an excellent addition to Latham's product portfolio since it complements our existing business and enables us to expand our addressable market," said Scott Rajeski, President and CEO of Latham.
Latham Group expects the acquisition to have no material impact on its FY21 outlook.
Price Action: SWIM shares traded higher by 0.98% at $23.68 on the last check Tuesday.