O2 Investment Partners in Bloomfield Hills today announced today it has invested in and partnered with The Aqua Doctor, Chaikin Ultimate Pools, Cool Pool & Spa, Gorlin Pools and Spas, and Rainbow Pools to form a new pool services platform.
The platform and partnership will help support the companies’ organic and M&A growth strategy. Terms of the investments were not disclosed.
The combination brings together five companies to create a leading pool services platform that serves customers throughout New York and New Jersey. The platform’s member companies 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 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,” says 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.”
The pool services platform is the fifth platform investment for O2’s most recent fund, O2 Investment Partners Fund IV.
“We are thrilled to partner with this group of highly skilled operators with industry-leading reputations,” says William Laffrey, senior associate at. “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 partnership was made possible by PennantPark Investment Advisors, which provided financing for the transaction.
O2 Investment Partners is a private equity firm that seeks to invest in lower middle market B2B services, technology, and select industrial companies. The firm invests with a view toward partnering with management to build and grow the business and take it to its next stage of development.
For more information, visit o2investment.com.
