Aqua-Leisure Recreation, LLC announced the acquisition of Longwood, FL-based INYO Pool Products, LLC, a direct-to-consumer brand of swimming pool supply, repair and maintenance products.
With this acquisition, John Paroline will become president and general manager for INYO Pool, reporting to Leland Nichols, Aqua-Leisure’s Chief Operating Officer. INYO co-founder Patrick Paroline will continue with the company as director of strategy and new products focused on the continued expansion of the Pureline brand across additional product segments. All day-to-day operations at INYO Pool’s Longwood facility remain unchanged.
The acquisition of INYO Pool enhances Aqua-Leisure’s aquatic recreational brands, including Airhead, Aqua, Dolfino, Sportsstuff, SwimSchool, and Yukon Charlie’s, including INYO’s Pureline products, and expands its platform by increasing omnichannel distribution, sales with new cross-selling opportunities.
“We welcome the INYO team to Aqua-Leisure and believe we will have significant synergies with the INYO family of brands,” said Steve Berenson, CEO, Aqua-Leisure. “By applying our significant global sourcing efficiencies to INYO, we expect an accelerated level of margins and value creation. Having just passed the first 100 days since we acquired Airhead, the #1 brand in the marine towable watersports and winter leisure products, we are pleased at how well the integration process has gone. We’ve seen tremendous success across our management, product, finance, sales, operations and sourcing teams and anticipate similar results with our consolidation of INYO into the Aqua Leisure family.”
The INYO acquisition is the second add-on acquisition for Aqua-Leisure since Blackford Capital acquired the company in January 2021 and comes four months after Aqua-Leisure acquired Airhead Sports Group.
“The anticipated synergies from the recent acquisition of Airhead have quickly come to fruition for the combined Aqua-Airhead team, with enhanced scale, brand value and e-commerce offerings,” said Martin Stein, founder and managing director at Blackford Capital. “Now, with the addition of INYO pool products, Aqua-Leisure gains an expanded product portfolio, enhanced channel expansion capability, platform cross-selling opportunities, and increased sourcing efficiencies.”
Orchard MB served as an exclusive financial advisor, and Burr & Forman served as legal advisor to INYO. Varnum LLP served as legal advisor, and Grant Thornton served as the financial and tax advisor to Blackford. Key Bank provided debt financing, and Muzinich & Co. and Capital Dynamics provided debt and equity financing in support of the transaction.
