Berkeley Heights, NJ – (work wire) – Today Hayward Holdings, Inc. (NYSE: HAYW) (“Hayward”), a global designer, manufacturer and marketer of a wide range of pool equipment and technology, announced its acquisition of Water Works Technologies Group, LLC (“Water Works”), a manufacturer of water features including water bowls and waterfalls Translucent with LED lighting options.
This acquisition comes on the heels of recent acquisitions of two Internet of Things (IoT) technology companies, SmartPower and SmartValve. Together, these acquisitions increase Hayward’s leadership position in intelligent IoT-enabled technologies designed to bring greater control and ambiance to the group while simplifying ease of use and cost of ownership.
Water Works manufactures a variety of resin and glass water bowls in a variety of colors and finishes as well as clear waterfalls. All of these advanced water features are colorfully illuminated by LED lighting options that allow the smart app to coordinate with the colors and displays of other pool, spa or landscape lighting.
SmartPower is a ground-breaking LED lighting controller that takes advantage of a proprietary communication protocol that makes installing and controlling multiple lighting zones in a pool, spa, water features or landscape easy to configure and use. It’s easy to program custom lighting effects and shows, and coordinate multiple water features with your pool, spa, and even landscape lights to easily transform an entire backyard. Technology also offers a compelling financial benefit. This unique product architecture provides complete control at less than 50% of the cost of using currently available technology. SmartPower is the solution for cloud-based autonomous control of any new or existing pool or as part of the OmniLogic® ecosystem, Hayward’s leading pool and spa automation platform.
SmartValve is an efficient fluid management system for the intelligent control of many advanced water features as well as increased hydraulic energy efficiency for your pool/spa design. SmartValve will operate independently as a central water distribution system with cloud-based control of other pool equipment via local or app control. As with SmartPower, SmartValve technology will seamlessly integrate with the OmniLogic ecosystem. SmartValve will greatly simplify the equipment pad installation process with a simple manifold design which greatly reduces the labor volume and equipment cost for the boater and pool owner.
“These three companies complement each other and extend Hayward’s leading smart technology solutions to augment the pool, spa and backyard ambiance. “They are perfect examples of harnessing new technology to deliver sustainable, energy-efficient solutions for our space,” said Kevin Holleran, Hayward CEO. “SmartPower and SmartValve are both easy to use and less expensive to install, which is a real win-win for both the homeowner and the trader. Through OmniLogic and pairing our new line of innovative water features from Water Works, Hayward is leading the way with products that transform the pool and backyard environment. We are really excited to offer these game-changing new product platforms to our customers and business partners.”
About Hayward Holdings, Inc.
Hayward Holdings, Inc. (NYSE: HAYW) is a global leader in the design and manufacture of pool equipment and technology, all key to a SmartPad™ transformation strategy designed to provide the superior outdoor living experience. Hayward offers a full line of innovative, energy-efficient and sustainable residential and commercial pool equipment, including a full line of advanced pumps, filters, heaters, automatic pool cleaners, LED lighting, Internet of Things (IoT) enabled controls, alternative sanitizers, and water features.
This statement contains forward-looking statements and information about the Company that are based on management’s beliefs as well as assumptions made by management and information currently available to management. When used in this version, words such as “may,” “will,” “should,” “could,” “intend,” “potential,” “continue,” “expect,” “believe,” “estimate,” Expect, “plan”, “objective”, “anticipate”, “project”, “seek” and similar expressions as they relate to us are intended to identify forward-looking statements. These statements reflect management’s current views regarding future events, and are not guarantees of future performance. They involve risks and uncertainties that are difficult to predict.Moreover, some forward-looking statements are based on assumptions about future events that may not be accurate.Actual results or events may differ materially from the plans, intentions and expectations disclosed in the forward-looking statements.Hayward has built these forward-looking statements Significant factors that could affect Hayward’s future results and could cause those or other results to differ materially from those of Hayward’s business, financial condition, and results of operations include management’s current expectations and expectations about future events and financial trends that management believes may affect Hayward’s business, financial condition, and results of operations Those referred to in the forward-looking statements the following: our ability to implement our growth strategies and expansion opportunities; Our ability to maintain favorable relationships with suppliers and manage disruptions in our global supply chain and raw material availability; our relationships with and performance of the distributors, builders, buying groups, retailers, and workers who sell our products to pool owners; competition from national and global companies, as well as low-cost manufacturers; Effects on our business from the sensitivity of our business to seasonal and unfavorable economic and business conditions; Our ability to identify emerging and other technological trends in our target end markets; Our ability to effectively and profitably develop, manufacture, market and sell our planned and future new products; Market failure to accept new product introductions and improvements; Ability to successfully identify, finance, complete and consolidate acquisitions; Our ability to attract and retain senior management and qualified staff; regulatory changes and developments that affect our current and future products; Currency exchange rate fluctuations. Our ability to service our existing debt and to obtain additional capital to fund our operations and growth opportunities; Effects on our business of political, regulatory, economic, commercial and other risks associated with the operation of foreign companies; our ability to create and maintain intellectual property protection for our products, as well as our ability to conduct our business without infringing, appropriating or otherwise violating the intellectual property rights of others; effect of material cost and other inflation; the effect of changes in laws, regulations, and administrative policies, including those that limit US tax benefits or affect trade agreements and tariffs; the outcome of litigation and government actions; Impacts on our business from the COVID-19 pandemic; and other risks and uncertainties set forth under the heading “Risk Factors” in the prospectus for Hayward’s initial public offering and in Hayward’s subsequent filings with the SEC.
Forward-looking statements in this presentation represent management’s views as of the date of this release. Unless required by United States federal securities laws, Hayward does not intend and assume no obligation to update these forward-looking statements for any reason after the date of this presentation to conform to actual results or changes in our expectations.