Home Banking & Finance Greenwich-based L Catterton buys swimming pool supplies retailer Leslie’s

Greenwich-based L Catterton buys swimming pool supplies retailer Leslie’s

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L Catterton, a Greenwich-based private equity firm, has announced its acquisition of Leslie’s Holdings Inc., a Phoenix-based retailer and online marketer of swimming pool and spa supplies and services.

Scott Dahnke

“This is an exciting investment opportunity for L Catterton, and the first from our recently closed $2.75 billion flagship fund, L Catterton VIII,” said Scott Dahnke, global co-CEO of L Catterton. “Our investment strategy is based on building enduring businesses, characterized by strong consumer demand fundamentals, and fueled by powerful and growing consumer brands. Leslie’s fits this strategy perfectly, as the undisputed leader in the stable and growing, yet still highly fragmented, pool supplies and services category. With a well-deserved reputation for delivering pool products and services at great value, we are excited to work with Leslie’s proven leadership team to build on the strong foundation that they have set in place.”

L Catterton also announced that GIC, Singapore’s sovereign wealth fund, will “make a substantial investment” in this transaction through one of its affiliate entities. The full terms of the acquisition were not disclosed.

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