BERKELEY HEIGHTS, N.J.–(BUSINESS WIRE)–Hayward Holdings, Inc., a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems, today announced that it has commenced an initial public offering of 40,277,778 shares of its common stock, with 22,200,000 shares being offered by Hayward and 18,077,778 shares being offered by existing stockholders. The initial public offering price is currently estimated to be between $17.00 and $19.00 per share. In addition, the existing stockholders are expected to grant the underwriters a 30-day option to purchase up to an additional 6,041,666 shares of common stock at the initial public offering price, less the underwriting discount. Hayward has applied to list its common stock on the New York Stock Exchange under the ticker symbol “HAYW.”
Hayward intends to use the net proceeds it receives from the offering to repay outstanding indebtedness under its senior secured credit facilities. Hayward will not receive any proceeds from the sale of shares of common stock by the existing stockholders.
BofA Securities, Goldman Sachs & Co. LLC and Nomura are acting as joint lead bookrunning managers for the offering. Credit Suisse, Morgan Stanley, Baird, Guggenheim Securities and Jefferies are also acting as joint bookrunning managers. BMO Capital Markets, KeyBanc Capital Markets, William Blair, Houlihan Lokey and Moelis & Company are acting as co-managers.
A registration statement on Form S-1 relating to the offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) but has not yet become effective. The shares to be registered may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these shares, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”).
About Hayward Holdings, Inc.
Hayward Holdings, Inc. is a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems. Headquartered in Berkeley Heights, NJ, Hayward designs, manufactures, and markets a full line of innovative, energy-efficient pool and spa equipment, with brands including AquaVac®, AquaRite®, ColorLogic®, Navigator®, OmniLogic®, OmniHub™, TriStar®, Super Pump®, TurboCell®, pHin™, CAT Controllers®, HCP Pumps and Saline C® Series.
