On Jan 18th David Jackson, Hydropool’s President and CEO, and Stephane Barralis, purchased Hydropool from our financial partners. This was posted to our web site dealer news on Jan 19th and communicated verbally to most of our customers and suppliers. In order to clear up any rumors, miscommunication, mis representation in the industry or stated by Hydropool’s competitors, we would like to address and expand on any concerns from this sale.
Hydropool has been working with its senior lender, financial partners & advisors over the last few months and determined that the most efficient & effective way to transfer ownership to a new group and buy out the senior debt holder was through a quick flip receivership. As such, a receiver was appointed by the court at the owners request and the court then immediately approved the sale of the company to the new ownership group. The receiver never took possession of the company and operations were not suspended in any manner whatsoever. The plant shutdown before Christmas was a planned normal seasonal shutdown and had nothing to do with the ownership change. From a practical standpoint, nothing has changed other than the ownership and business is carrying on as usual. Our factory is producing and shipping hot tubs everyday.
Hydropool has been in the business for over 30 years, and will remain one of the leaders in the Hot tub market for many years thanks to its constant innovations. We offer 5 hot tub brands as well as 4 unique Swimspas.
The Hydropool Team is more confident than ever in its future and reports a successful year for both the European and North American retail operations together with an increased number of orders during the past 6 months in the plant.
Everyone is extremely excited by this event and as we enter 2010, Hydropool is better positioned than ever, to see business grow easier and even more focused towards customers’ needs!
Sincerely,
Dave Jackson, Stephane Barralis, Tracy Hall, Lou Rodrigues, Dan Love, Doug Gillespie
Press-release from Hydropool
