Printer Friendly

Polyair agrees to sell Cantar abovegrounds.

Polyair Inter Pack Inc. has announced that its subsidiary, Cantar Pool Products, has struck an agreement to sell its aboveground pool business to Northern Lights Recreation Co. Polyair and NLR are based in Toronto.

Though the deal was not officially closed at press time, company officials said the sale was expected to be completed Sept. 5 after all conditions outlined in the asset purchase agreement were satisfied. Terms were not disclosed.

"We are keeping the business in Toronto because we want a unified transition," said Steve Cohen, owner of NLR. "We don't want to lose employees."

Cohen is a major owner of Wilbar International and AquaLeader, aboveground pool companies based in Hauppauge, N.Y.

Cohen said that he and other investors purchased the company. Tony Mertens will be named president of NLR.

"We are continuing the 40-year-old tradition that was formerly owned by Cantar," Cohen said. "Atlantic is one of the pool lines that currently exists. That started as Haugh's Pools. We will continue that tradition."

The purchase will include all current and past pool models, assets, machines and tools. Cohen said NLR will keep the same pool models in the current line and continue the warranties, as well as boost the company's customer service.

Cohen added that his company and investors could combine buying power, resulting in lower costs. The move is expected to have a positive effect on the former Cantar property's product services and internal workings.

The aboveground-pool market is one of the most difficult entities in the leisure industry to manage, Cohen explained, because it has a short season, the product must be assembled and models change annually. But by holding interests in other aboveground pool lines, Cohen said the move gives him more leverage.

"Now I will get a lot more buying power for raw materials," he noted. "I think the aboveground-pool industry will become a better business."

If the transaction is completed, it will mark the second sale of pool-related products that Polyair Inter Pack has initiated in the past two months. In July, the company sold Cantar's pool cover and accessories lines to GL International, LLC, a firm created by its former president, Gary Crandall, specifically to make the purchase.

COPYRIGHT 2006 Hanley-Wood, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:MAKING NEWS
Author:Dumas, Bob
Publication:Pool & Spa News
Date:Sep 18, 2006
Previous Article:Sacramento industry dealing with major closure.
Next Article:Missouri attorney general sues pool builder.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters