Blackford Capital water sports portfolio company makes second recent add-on acquisition

Aqua-Leisure Recreation LLC, a portfolio company of Grand Rapids private equity firm Blackford Capital, acquired Longwood, Fla.-based INYO Pool Products LLC, a brand of swimming pool supply, repair and maintenance products.

The deal is the second add-on acquisition made by Aqua-Leisure since Blackford Capital acquired the company in January 2021. Aqua-Leisure acquired Denver, Colo.-based Airhead Sports Group four months ago.

“The anticipated synergies from the recent acquisition of Airhead have quickly come to fruition for the combined Aqua-Airhead team, with enhanced scale, brand value and e-commerce offerings,” Martin Stein, founder and managing director at Blackford Capital, said in a statement. “Now, with the addition of INYO Pool Products, Aqua-Leisure gains an expanded product portfolio, enhanced channel expansion capability, platform cross-selling opportunities and increased sourcing efficiencies.”

Terms of the deal were undisclosed.

Orchard MB served as financial adviser and Burr & Forman served as legal adviser to INYO. Varnum LLP served as legal adviser and Grant Thornton was the financial and tax adviser to Blackford. Key Bank provided debt financing while Muzinich & Co. and Capital Dynamics provided debt and equity financing in support of the transaction.