Brockway Moran & Partners Completes Recapitalization of Latham International.

BOCA RATON, Fla. -- Brockway Moran & Partners, Inc., a Florida-based private equity firm, announced today that an investor group led by Brockway Moran & Partners has recapitalized Latham International ("Latham" or the "Company") in partnership with management. As part of the recapitalization, the Company has acquired the manufacturing operations of Fort Wayne Pools, Inc. ("Fort Wayne") and Les Industries R.P. Inc. ("RP") from an affiliate of SCP Pool Corporation ("Pool Corp"). The total transaction is valued at approximately $184 million.

Latham International - http://www.pacificpools.com -, headquartered in Latham, New York, is the leading manufacturer of swimming pool components and accessories. The Company has assembled an extensive portfolio of pool and pool accessory brand names, including Pacific Pools(TM), Kafko(R), Performance Pool(R), Technican(TM), Trillium(R) and Triac(R). Latham offers a broad line of products, including in-ground and above-ground vinyl pool liners, polymer and steel pool wall systems, steps and ladders, pool safety covers, spillover spas and a variety of other pool related accessories. Currently Latham employs approximately 1,000 people at 20 locations throughout North America.

Located in Fort Wayne, Indiana, Fort Wayne Pools is a leading manufacturer of in-ground swimming pools and components, including braces, wall panels, vinyl liners, coping and steps. RP, located in Terrebonne, Quebec, is a manufacturer of swimming pool components and accessories, primarily focused on steel wall panels and braces. In addition, as part of the agreement, Pool Technology Distributors, Inc., Latham's Canadian wholesale distribution operation, with three branches in the Toronto, Ontario market area, will be sold to Pool Corp.

Michael E. Moran, Managing Partner of Brockway Moran & Partners stated, "Under the direction of its talented management team led by President and CEO Mark Laven and with the support of its ownership group led by Summer Street Capital Partners and HSBC Capital (Canada), Latham has done a tremendous job expanding its operations and improving its product portfolio and value proposition for its customers. Latham fits perfectly with both of the key tenants of our investment philosophy: a focus on long-term capital appreciation and an overall commitment to growth both through internal expansion or external acquisitions."

"We feel that this transaction assists us in two very important ways," says Mark Laven, President & CEO of Latham International. "First, it provides us a source of growth capital that our rapidly expanding business needs. Second, the additions of Fort Wayne and RP fit perfectly with our strategy to continue to expand the breadth and depth of our products and brands while providing the highest level of quality and services to our customers throughout North America and Europe.

"We are very optimistic about the growth prospects in the swimming pool industry," Laven said. "Our products are in demand from consumers who want a healthy recreational activity at home with their families." Laven added, "We see significant opportunity from this transaction. We can assist our customers in meeting their demand for the finest pool products and will be able to provide new career and growth opportunities for our loyal and dedicated associates here in North America and Europe."

About Brockway Moran & Partners

Brockway Moran & Partners, Inc. - http://www.brockwaymoran.com - is a private equity firm located in Boca Raton, Florida, that invests in middle market companies valued up to $250 million. The firm seeks to create long-term capital appreciation by acquiring growing companies in partnership with management and working with them to build value through both internal growth strategies and complementary acquisitions. Brockway Moran & Partners has more than $600 million in assets under management. Investors include Goldman Sachs, Adams Street Partners, Wilshire Associates, Pathway Capital, Virginia Retirement System, Princeton University, Massachusetts Institute of Technology, University of Chicago, Shott Capital Management, PPM America, GE Capital, SunTrust, Credit Suisse First Boston, Bessemer Trust and Travelers.