L Catterton has agreed to buy pool supplies company Leslie’s Holdings Inc. from CVC Capital Partners. GIC, an investment firm and sovereign wealth fund in Singapore, is also investing alongside L Catterton. Financial terms were not disclosed.
Leslie’s, based in Phoenix and founded in 1963, sells pool equipment such as covers, ladders and filters. Under CVC’s ownership, Leslie’s has grown from 645 to about 900 stores. The company has also expanded its e-commerce presence. CVC invested in Leslie’s in 2010.