Landmark Aquatic Completes Acquisition of Spear Corporation, Expands Geographic Footprint and Bolsters Renovation Capabilities

ST. LOUIS, March 12, 2024 /PRNewswire/ -- Landmark Aquatic ("Landmark"), the nation's leading provider of comprehensive commercial pool services, announced today the strategic acquisition of Indiana-based Spear Corporation ("Spear"). This transaction solidifies Landmark's position as the market leader in commercial aquatics while further expanding its geographic reach across the Midwest and portfolio of services in the renovation, service, maintenance, design, and construction markets.

Over the last four decades, Spear has built a strong reputation for excellence in designing, building, renovating, and maintaining commercial swimming pools for a diverse clientele. Spear has established itself as a trusted name in the commercial swimming pool industry, with a proven track record of delivering quality projects and outstanding customer service. Their robust capabilities and dedication to superior quality make them an ideal addition to the Landmark platform, and by integrating their expertise and resources, this partnership will enhance Landmark's ability to deliver a comprehensive set of solutions to customers across the country. By bringing together the strengths of both companies, Landmark can now provide a seamless experience for clients, addressing their needs at every stage of the pool lifecycle.

"We are thrilled to welcome Brian Spear and his team into the Landmark family," said J. Ryan Casserly, Chief Executive Officer at Landmark Aquatic. "Their proven track record of delivering high-quality service fits perfectly with our commitment to excellence. This acquisition not only strengthens our position in the market but also enables us to offer an even broader range of services to an increasing number of clients." Russell Leto, President at Landmark Aquatic, commented, "joining forces with Spear enables us to enhance our reach into several new states and deliver our comprehensive suite of services to a wider audience of education, municipal and private club developer clients. Together, we can elevate the standards in the commercial swimming pool industry."

By adding Spear to the platform, Landmark Aquatic will continue to provide customers with a turnkey experience. From the initial design concept to the ongoing chemical delivery and maintenance, Landmark Aquatic's complete range of services will ensure a unified, hassle-free experience backed by industry-leading expertise for clients nationwide. The combined business will continue to be supported by a highly-skilled, technical workforce committed to safety and best-in-class service and is uniquely positioned to continue to enhance communities through aquatics.

"Today is a transformative day for Spear, and we are excited about the possibilities this collaboration brings for our customers," said Brian Spear, President at Spear Corporation. "Our two companies are rooted in similar core values, providing a strong foundation for success. By combining our strengths and resources, we can offer our customers a more comprehensive suite of aquatic solutions, ensuring their projects are completed efficiently and to the highest standards."

With a distinguished track record in renovating and revitalizing existing pool facilities, Spear brings a wealth of expertise and experience to the Landmark enterprise. From rejuvenating aging facilities to transforming outdated pools into modern, state-of-the-art amenities, Spear's specialized proficiency in renovation projects complements Landmark's existing offerings and opens up new avenues for growth and innovation.

About Landmark Aquatic: Landmark Aquatic brings together Progressive Commercial Aquatics, Westport Pools, and Spear Corporation to create a national platform offering innovative aquatic solutions from design and build to maintenance, repair, and renovation. The company currently has six locations and performs work in over 15 states. For more information, please visit www.landmarkaquatic.com.

About Bow River Capital: Bow River Capital, Landmark's financial sponsor, is a private alternative asset manager based in Denver, Colorado, focused on investing in the lower middle market in multiple asset classes, including private equity, private credit, real estate, and software growth equity. Collectively, the Bow River Capital team has deployed capital into diverse industries, asset classes, and across the capital structure. For more information, please visit www.bowrivercapital.com.

SOURCE Bow River Capital