Hayward Holdings, a leading supplier of pool equipment and systems, announced terms for its IPO on Wednesday.
The Berkeley Heights, NJ-based company plans to raise $725 million by offering 40.3 million shares (45% insider) at a price range of $17 to $19. At the midpoint of the proposed range, Hayward Holdings would command a fully diluted market value of $4.4 billion.
Hayward states that it is an industry-leading global designer, manufacturer, and marketer of a broad portfolio of pool equipment and associated automation systems, supported by a large installed base and an estimated North American residential pool market share of approximately 30%. The company has established a strong brand among pool professionals, such as retailers and builders, as well as pool owners.
Hayward Holdings was founded in 1925 and booked $875 million in sales for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol HAYW. BofA Securities, Goldman Sachs, Nomura Securities, Credit Suisse, Morgan Stanley, Baird, Guggenheim Securities, and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of March 8, 2021.
