SME Capital is delighted to announce that Deep End Pools has acquired Horsham-based Home Counties Pools, one of Sussex, Kent and Surrey's most established installers of domestic swimming pools, hot tubs, spas and ‘Endless' fitness pools.
Deep End Pools, backed by London-investment firm RDCP, after it acquired the business in December last year, is one of the UK's most prestigious swimming pool developers and service companies. Deep End Pools is targeting significant growth following the strategic bolt-on acquisition of Home Counties Swimming Pools. Funding to assist this latest transaction has been structured by SME Capital, represented by Stuart Watson.
Based in Buckinghamshire and established in 1999, Deep End Pools is run under the directorship of founder Robert Coombs, and Paul Woodhead. It is one of the leaders in the design/construction/servicing of swimming pools for private customers in the region. The acquisition of Home Counties Swimming Pools complements the business and will extend the footprint of both across the South East. Home Counties Pools covers clients across Hampshire, West Sussex, East Sussex and Surrey which matches up perfectly with Deep End Pools, which has clients across Buckinghamshire, Oxfordshire, Berkshire and Surrey.
Established in 1983, Home Counties Pools is a profitable business with a strong management team. The current owners Craig and Gill Trusson have agreed to sell the business to RDCP and Deep End Pools. The deal will provide a phased exit for Craig and Gill, enabling Home Counties Pools to reach the next stage of its development. They will work with RDCP board members and shareholders Sameer Rizvi, Iryna Dubylovska and RDCP Investment Director Paul Clunn.
Sameer Rizvi, Founder & CEO of RDCP Group said:
“The synergies between Deep End Pools and Home Counties Pool makes this deal a perfect match. Both operate in the high-end residential facilities management sector and have excellent reputations for quality products and first class customer service. Facilities management is a sector we are keen to be invest further into at RDCP. The recurring income is what makes the sector attractive. I would also like to thank the team at TML Finance and SME Capital who we are thrilled to work with again.”
Robert Coombs and Paul Woodhead, Joint Managing Directors at Deep End Pools said:
“The acquisition of Deep End Pool and Home Counties Swimming Pools is a great move for both businesses. This collaboration will provide enhanced services to customers across the South East. We’re looking forward to working with Craig and Gill and the rest of the team at Home Counties Swimming Pools. It is very much business as usual for all staff, suppliers and customers and we will work together to deliver and build on the quality range of products and services available to new and existing customers of Home Counties Swimming Pools and Deep End Pools.”
Craig and Gill Trusson, Home Counties Swimming Pools added:
“This year Home Counties Swimming Pools celebrates its 40th year of providing swimming pool installation and associated home leisure and wellness products to homes throughout Surrey, Sussex , Kent and other areas throughout the South. As part of our retirement planning, it was important to us that any sale of the business must be to a buyer who would provide the best opportunities for our outstanding staff going forward and to continue to uphold our reputation for excellent customer service and quality driven work.
“Having evaluated numerous interested parties, we were impressed with the ethos of Paul and Rob and the Deep End Pools team together with RDCP's team. We believe they will provide long term benefits to our amazing team, customers, and suppliers, enabling Home Counties Swimming Pools to continue to maintain and further develop the high standards it is renowned for. This means we can enter retirement in the knowledge our hard work over the past four decades will have laid strong foundations for what we are sure will be a great future and worthy long term investment for RDCP.”
Stuart Watson, Regional Director, Business Development SME Capital said:
“RDCP with Paul and Rob at DEP identified Home Counties Pools as another excellent acquisition. Home Counties Swimming Pools has a first class reputation in the sector under the guidance of Craig and Gill and a complimentary product range. The acquisition will take Home Counties Swimming Pools to the next level of their growth strategy as Deep End Pool will benefit from the marketing expertise of a larger group.
We have been pleased to support RDCP in this further acquisition with a five year loan including a capital repayment holiday and bullet repayment structure to help with the initial integration and maximise cash headroom given continued uncertainty in the wider economy. This is another excellent introduction from Neil Sharp of TML Finance & Advisory. Thanks to all involved including all at Squire Patton Boggs.”
Neil Sharp, Director at TML Finance and Advisory, who structured the lending package to assist with the purchase, added:
“We have worked in partnership with RDCP on a number of acquisitions over the last year and I’m thrilled to once again support RDCP and Deep End Pools with this latest deal alongside SME Capital. Deep End Pools has performed strongly since its acquisition by RDCP and the acquisition of Home Counties Swimming Pools strengthens its position in the market and brings together two quality businesses operating in the high-end facilities management sector. It was great to work alongside Stuart Watson and the wider Team at SME Capital who have delivered again for us and our client.”
If you would like to discuss acquisition financing in more detail please do get in touch.
About SME Capital
SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.
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