RIVERBEND SANDLER POOLS ANNOUNCES ACQUISITION OF CLAFFEY POOLS

PLANO, Texas, Jan. 17, 2022 /PRNewswire/ -- Riverbend Sandler Pools ("Riverbend"), the leading residential pool construction, service, and maintenance provider in the Dallas – Ft. Worth metroplex, and a portfolio company of Concentric Equity Partners ("CEP"), announced the acquisition of Claffey Pools ("Claffey" or the "Company"), a Southlake, TX-based provider of luxury and upscale swimming pool and spa construction, remodeling, repair, and maintenance services. Riverbend will be acquiring Claffey from and partnering directly with current owners and industry veterans Brian, Shelly, and Charlie Claffey, who will remain with the Company in their current leadership roles for the long-term future and retain substantial individual ownership stakes. Claffey represents the Riverbend platform's second add-on acquisition in the last two months of 2021 after the acquisition of Pulliam Pools on November 16^th.

Claffey Pools is a premier residential and commercial pool construction and service brand in the DFW market and a PSN Top 50 Builder (#8 in 2021). Founded in 1987 by Paul Claffey, the Company has operated as a trusted builder and servicer of high-end pools for more than three decades and constructed more than 10,000 pools. Siblings Brian, Shelly, and Charlie, joined Claffey in operating roles in the 1990s and purchased the Company in 2002. Today, Claffey is recognized across the DFW metroplex for its craftsmanship, design, and quality of service. The Claffey brand and all Claffey employees will continue the pursuit of a passionate commitment to excellence.

"Over the course of the last five years, we have searched for an honest and ethical partner that would allow Shelly, Brian, and I to retain substantial ownership stakes, retain daily responsibilities, and assist our amazing team in continuing to grow, enhance, and add services to best support our Claffey customers.  We are so excited to announce that our long list of check the box requirements for our Claffey team members, the Claffey brand, and our Claffey customers has been fulfilled with CEP and Riverbend Sandler," said Charlie Claffey.

"Claffey's emphasis on design and quality and prioritization of customer service has enabled the Company to truly stand out as one of the market leaders," said Riverbend Sandler CEO Bruce Mungiguerra. "We're looking forward to a variety of opportunities to better serve our customers and employees by having the Claffey and Riverbend brands together under one umbrella". 

"Claffey is a longstanding and recognized leader in the DFW pool market and has a storied history under decades of family leadership," said Charles Barnes, Founder and Chairman of Riverbend Sandler. "The combination of the Riverbend, Claffey, and Pulliam brands will result in a residential pool platform that is both the largest in the DFW metroplex as well as culturally the most focused on premier customer service ". 

Adam Lucas of Concentric Equity Partners adds: "The name and reputation the Claffey family has built over multiple successful decades in the industry speaks for itself. The platform's market leadership and geographic coverage will be highly strategic to our platform and make an excellent combination with our existing brands, and the continued leadership of Charlie, Brian, and Shelly will position the Company well for continued future growth and development".

About Claffey Pools:
Headquartered in Southlake, TX, and serving the entirety of the DFW Metroplex, Claffey Pools is a leading residential and commercial pool construction, renovation, and service company. Founded in 1987 by Paul Claffey, Claffey has been creating personal paradises and assisting clients with after market needs, such as the 2021 freeze, for 34 years. From first time clients to repeat clients, with desires ranging from freeform pools to infinity pools, cocktail pools and lazy rivers, the Claffey team of expert designers, builders, and service personnel will create and support your backyard oasis passionately, the "Claffey" way. Claffey has and continues to mean honesty, integrity, and commitment. Claffey is the continuation of a family business with second generation leadership and an amazing team of long tenured, hard-working, high character people.

For more information on Claffey, visit www.claffeypools.com.

About Riverbend Sandler Pools:
Headquartered in Plano, TX, Riverbend Sandler is the leading residential pool construction, service, and maintenance provider in Dallas Fort Worth. The Company differentiates through its specialized and high-touch design process, commitment to quality craftsmanship and customer service, and established track record of success. The Company was founded by Charles Barnes in 1981 and grown over a successful period of more than four decades to become one of the largest pool builders in the Southwest U.S. Riverbend Sandler's guiding philosophy has always been: "Don't cut corners. Take a little more time to build it right and never compromise quality craftsmanship."

For more information on Riverbend Sandler, visit www.riverbendsandler.com.

About Concentric Equity Partners:
Concentric Equity Partners is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory to accelerate long term value creation. Concentric's approach is simple: support entrepreneurs and operators by providing the resources required to achieve extraordinary results. The firm's investment team is made up of individuals with distinguished track records as operators and professional investors across a variety of growth oriented middle market companies.

Concentric Equity Partners is the direct investing arm of Financial Investments Corporation, a private asset management firm and family office with over $2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans and has been partnering with private companies for more than 25 years.

For more information on Concentric, visit www.ficcep.com.

SOURCE Concentric Equity Partners