WESTPORT, Conn., Aug. 27,
2024 /PRNewswire/ -- Balance Point Capital Advisors,
LLC ("Balance Point"), in conjunction with its affiliated funds,
Balance Point Capital Partners IV, L.P. and Balance Point
Capital Partners V, L.P., is pleased to announce its investment in
SPS PoolCare ("SPS", or the "Company"), a portfolio company of
Storr Group ("Storr"), a Texas‑headquartered private equity firm
focused on building platforms within fragmented sectors. Balance
Point provided debt capital to support SPS's current acquisition
pipeline and extended significant available capital for future
M&A activity.
Headquartered in Austin, TX,
SPS PoolCare provides residential pool services including
maintenance, repair, and renovation services to thousands of
customers across Texas,
Florida, Arizona, and Nevada. Since its inception in 2021, the
Company has been highly acquisitive, bringing 80+ brands under its
ownership. SPS's technology-first approach to service delivery has
enabled the seamless integration of these brands and gained the
Company the title of #1 pool service company in the United States by Pool and Spa News.
"Balance Point is excited to partner with SPS and Storr as they
continue to establish themselves as leaders in the residential pool
service industry," said Seth Alvord,
Managing Partner at Balance Point. "SPS's impressive application of
technology to streamline operations and facilitate acquisition
integration is evident across the organization. We look forward to
continuing to support SPS on their exciting journey ahead."
"We are pleased to welcome Balance Point as our first debt
capital partner," remarked Lance
Martin, President and COO of SPS. "Their service industry
expertise, collaborative approach, and robust capital base will be
crucial as we continue to expand while maintaining best-in-class
pool maintenance and repair services throughout the Sun Belt."
Fraser Ramseyer, Chairman and CEO
at Storr, said, "From the outset, Balance Point recognized our
vision for SPS and designed a tailored financing structure that
aligns with our mission to consolidate the fragmented pool services
industry. We are thrilled to have Balance Point as a capital
partner at SPS and look forward to collaborating with them again in
the future."
About Balance Point
Balance Point is an alternative
investment manager focused on the lower middle market. With
approximately $2.1 billion in assets
under management, Balance Point invests debt and equity capital in
select lower middle market companies across a variety of investment
vehicles. Balance Point takes a long-term, partnership approach to
investing and is committed to building lasting relationships with
its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further
information is available at www.balancepointcapital.com.
About SPS PoolCare
As the #1 swimming pool services
company in the United States
ranked by Pool and Spa News, SPS PoolCare is on pace to perform one
million weekly pool services per year and employs more than 500
staff across four states. Backed by Storr Group, the company is
focused on growing its family of brands across the Sun Belt, as it
continues to make owning a pool a joy. SPS PoolCare is committed to
creating a world-class service experience for its customers and
being an employer-of-choice for its team members.
For more information, visit www.spspoolcare.com
About Storr Group
Storr Group is a leading
operationally focused private equity firm headquartered in
Austin, Texas. Storr builds and
scales best-in-class platforms across the
United States, elevating industries for consumers,
employees, and key stakeholders. The firm predominantly operates
within fragmented, high-margin sectors – creating value through
consolidation and its methodical Storr Business Systems
playbook that drives operational excellence, industry-leading
growth, and technology transformation. Storr Group is actively
operating multiple scaled platforms and has executed nearly 100
investments across its platforms. For more, visit
www.storrgroup.com.
Media Contact:
Adam H. Sauerteig
Office: 203-652-8555
asauerteig@balancepointcapital.com
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SOURCE Balance Point Capital