Known over the years primarily as a commercial pool management company, Owings Mills, Md.-based American Pool Enterprises plans to increase its presence in the residential service and maintenance sector, eventually saturating the Sunbelt.
The company has made inroads in residential service. About 10 years ago, it purchased Phoenix-based PoolMan, a brand that has since expanded to San Diego, Las Vegas, Dallas and Tucson, Ariz. In 2017, it purchased All Florida Pool and Spa Center, one of the Sunshine State’s largest pool service companies.
On the plastering side, it owns Pearl Pool Plastering, which serves six states and Washington, D.C.
American Pool now has a defined residential division. It plans to continue growing through acquisition, but to pick up the pace. The company isn’t looking to start a franchise or take on venture capital investors, said its CEO Mitchell Friedlander. Nor does it require sellers to leave their companies shortly after the purchase. Those wishing to remain often have that option, Friedlander said.
American Pool is open to acquiring companies of varying levels of establishment, from veteran professionals looking for a retirement plan to younger companies that could benefit from a cash infusion. “We acquire, but we acquire with the idea to hold, and they retain some of the ownership in the business,” Friedlander said. “Eventually if they want to leave … they cash out the remainder of their ownership.”
Many of the locations will be branded with the Pool Man name, he added.
This continues a trend of service “roll-ups” that seek to expand throughout the Sunbelt by way of acquisition. Most recently, Pool Troopers and the newly formed National Pool Partners announced aggressive growth strategies.
