BERKELEY HEIGHTS, N.J.–(BUSINESS WIRE)–Hayward Holdings, Inc. (NYSE: HAYW) (“Hayward”), global designer, manufacturer and marketer of a broad portfolio of pool equipment and technology, today announced the acquisition of Water Works Technologies Group, LLC (“Water Works”), a manufacturer of water features including water bowls and sheer waterfalls with LED lighting options.
This acquisition follows the recent acquisitions of two internet of things (IoT) technology businesses, SmartPower and SmartValve. Together, these acquisitions further extend Hayward’s leading position in smart, IoT-enabled technologies designed to bring greater control and ambiance to the pool while simplifying ease of use and cost of ownership.
Water Works manufactures a variety of water bowls in both resin and glass in an assortment of colors and finishes as well as Sheer Waterfalls. These high-end water features all have color illumination through LED lighting options which allow Smart app coordination with other pool, spa or landscape lighting colors and shows.
SmartPower is a breakthrough LED Lighting controller leveraging a proprietary communication protocol which makes installing and control of multiple lighting zones in the pool, spa, water features or landscape simple to configure and use. Custom lighting effects and shows are easy to program, coordinating multiple water features with the pool, spa, and even landscape lights to effortlessly transform the entire backyard. The technology also presents a compelling financial benefit. This unique product architecture delivers all the control with less than 50% of the cost of using currently available technology. SmartPower is the solution for standalone cloud-based control for any new or existing pool or as part of the OmniLogic® ecosystem, Hayward’s leading pool and spa automation platform.
SmartValve is an active fluid management system for intelligent control of multiple, advanced water features in addition to delivering increased hydraulic energy efficiency for pool/spa design. SmartValve will operate autonomously as the central water distribution system with cloud-based control of other pool equipment via local control or app. As with SmartPower, the SmartValve technology will seamlessly integrate with the OmniLogic ecosystem. SmartValve will dramatically simplify equipment pad installation with a simple manifold design significantly lowering the amount of labor and equipment cost for the installer and the pool owner.
“These three businesses complement each other and further extend Hayward’s leading Smart technology solutions to increase the ambiance of the pool, spa and backyard. They are perfect examples of harnessing new technology to deliver sustainable, energy-efficient solutions to our space,” said Kevin Holleran, CEO of Hayward. “SmartPower and SmartValve are both easy to use and less costly to install, a real win-win for both the homeowner and trade professional. With OmniLogic and the coupling of our new line of innovative water features from Water Works, Hayward is leading the way with products transforming the pool and backyard environment. We are really excited to introduce these game-changing new product platforms to our consumers and trade partners.”
About Hayward Holdings, Inc.
Hayward Holdings, Inc. (NYSE:HAYW) is a leading global designer and manufacturer of pool equipment and technology all key to the SmartPad™ conversion strategy designed to provide a superior outdoor living experience. Hayward offers a full line of innovative, energy-efficient and sustainable residential and commercial pool equipment, including a complete line of advanced pumps, filters, heaters, automatic pool cleaners, LED lighting, internet of things (IoT) enabled controls, alternate sanitizers and water features.
This release contains forward-looking statements and information relating to the Company that are based on the beliefs of management as well as assumptions made by, and information currently available to management. When used in this release, words such as “may,” “will,” “should,” “could,” “intend,” “potential,” “continue,” “anticipate,” “believe,” “estimate,” “expect,” “plan,” “target,” “predict,” “project,” “seek” and similar expressions as they relate to us are intended to identify forward-looking statements. These statements reflect management’s current views with respect to future events, are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Further, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. Hayward has based these forward-looking statements largely on management’s current expectations and projections about future events and financial trends that management believes may affect Hayward’s business, financial condition and results of operations. Important factors that could affect Hayward’s future results and could cause those results or other outcomes to differ materially from those indicated in the forward-looking statements include the following: our ability to execute on our growth strategies and expansion opportunities; our ability to maintain favorable relationships with suppliers and manage disruptions to our global supply chain and the availability of raw materials; our relationships with and the performance of distributors, builders, buying groups, retailers and servicers who sell our products to pool owners; competition from national and global companies, as well as lower cost manufacturers; impacts on our business from the sensitivity of our business to seasonality and unfavorable economic and business conditions; our ability to identify emerging technological and other trends in our target end markets; our ability to develop, manufacture and effectively and profitably market and sell our new planned and future products; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; our ability to attract and retain senior management and other qualified personnel; regulatory changes and developments affecting our current and future products; volatility in currency exchange rates; our ability to service our existing indebtedness and obtain additional capital to finance operations and our growth opportunities; impacts on our business from political, regulatory, economic, trade, and other risks associated with operating foreign businesses; our ability to establish and maintain intellectual property protection for our products, as well as our ability to operate our business without infringing, misappropriating or otherwise violating the intellectual property rights of others; the impact of material cost and other inflation; the impact of changes in laws, regulations and administrative policy, including those that limit US tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; impacts on our business from the COVID-19 pandemic; and other risks and uncertainties set forth under “Risk Factors” in the prospectus for Hayward’s initial public offering and in Hayward’s subsequent SEC filings.
The forward-looking statements in this presentation represent management’s views as of the date of this release. Unless required by United States federal securities laws, Hayward neither intends nor assumes any obligation to update these forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations.
