CCMP Capital Advisors and MSD Partners have agreed to acquire pool equipment manufacturer Hayward Industries Inc. The target's management team will keep a stake in the company. Alberta Investment Management Corp. is also investing in the deal.

Hayward, based in Elizabeth, New Jersey, makes pumps, heaters, cleaners, flow control products and lighting for commercial and residential pools. The company also has a presence in Europe and Australia. Financial terms of the deal were not disclosed. In other pool supply deals, earlier in 2017, L Catterton bought Leslie's from CVC Capital. In 2015, AEA Investors has acquired Balboa Water Group.

CCMP Capital, based in New York, focuses on middle market deals, investing $100 million to $500 million in North American and European companies, primarily in consumer, industrial and healthcare sectors.

Houlihan Lokey Inc. (NYSE: HLI) and Bank of America are advising the buyers. Ropes & Gray is representing CCMP. Dechert and Hogan Lovells are representing MSD and Torys is doing the same for Alberta Investment. Goldman Sachs & Co. (NYSE: GS) and McCarter & English are advising Hayward. Bank of America, Jefferies, Morgan Stanley, and Nomura are providing financing.

Hayward Industries

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