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Riverbend Sandler Announces Acquisition of Pool Steward

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Riverbend Sandler Pools Acquires Pool Steward

Plano, TX. (February 28, 2023) – 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 Pool Steward (“Pool Steward” or the “Company”), a Dallas, TX-based provider of residential swimming pool service, maintenance, repair. Riverbend has acquired Pool Steward from owner and leader Tim Kaiser, a small business entrepreneur with a commercial real estate background.

Pool Steward has been providing residential pool service across the DFW metroplex for 20 years with an emphasis on finding, training, and utilizing the best talent to deliver a top customer experience. All Pool Steward technicians and employees will continue in their current roles with the Company. Pool Steward represents an ideal partnership for Riverbend Sandler as a part of the platform’s aggressive organic and acquisition growth goals within the DFW metroplex and throughout the state of Texas.

“As I considered the next chapter, I decided it was time to find a partner that could help us create something even greater than it is today,” said Tim Kaiser. “This new partnership will provide us with additional resources that offer the ability to further improve on the quality our customers expect and deserve. Riverbend Sandler has been a market leader for over 40 years and we are fortunate to join this wonderful organization”

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“Pool Steward has a well-known reputation in the Dallas pool market for service, quality and commitment to technician training,” said Riverbend Sandler CEO Bruce Mungiguerra. “I’m thrilled to add Pool Steward to the Riverbend Sandler group of companies and believe it will be a big driver of value for our business moving forward”.

Adam Lucas of CEP adds: “Tim Kaiser is a true entrepreneur and leader who pushes his team to deliver an exceptional customer experience. This represents our third pool service company acquisition and demonstrates our commitment to an aggressive growth strategy through acquisitions”.

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About Pool Steward:
Headquartered in Addison, TX, and serving the central parts of the DFW Metroplex, Pool Steward is a leading residential pool service and repair company. With over 20 years maintaining residential pools in DFW, Pool Steward has differentiated itself in the market by its dedication to its customers and focus on providing the most skilled and highly trained technicians in the market.

For more information on Pool Steward, visit www.psdfw.com.

About Riverbend Sandler Pools:
Headquartered in Plano, TX, Riverbend Sandler is the leading residential pool construction, service, and maintenance provider in Dallas – Ft. 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 has 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 (“CEP”) is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory to accelerate long term value creation. CEP’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.

CEP 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 CEP, visit www.ficcep.com.

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Marianne Trusty is a Press Correspondent for the pool & spa industry. A published author and social media influencer reaching over 20 million people around the world each day. Contact Marianne about publishing op-editorials, breaking pool news and press releases at [email protected].

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Pool News

Patent Pending Apple Watch SOS Feature Could Prevent Drownings

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Patent Pending Apple Watch SOS Feature Could Prevent Drownings


A forthcoming feature potentially destined for the Apple Watch, as detailed in a recent patent application, could serve as a lifesaver for swimmers at risk of drowning.

Outlined in the patent is a capability for the Watch to identify “irregular behavior” and automatically trigger a distress call for assistance.

Apple underscores the alarming statistics surrounding drowning, particularly its prevalence among children, as a leading cause of accidental fatalities.

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In the United States alone, drowning claims the lives of over 3,500 individuals annually, ranking as the fifth most common form of accidental death. Tragically, a significant portion of these victims are children.

Emphasizing the critical importance of swift intervention during water emergencies, Apple highlights the dire consequences of prolonged submersion without resuscitation, which can result in brain damage and ultimately, drowning.

A Growing Need For Cost-Effective Wearable Solutions

While acknowledging existing underwater camera systems in some swimming pools aimed at detecting distressed swimmers and alerting lifeguards, Apple notes their costliness and unreliability.

Consequently, there’s a pressing need for a simpler, more cost-effective drowning prevention solution suitable for all types of water bodies, including public and private pools, as well as natural settings like lakes and ponds where installing underwater cameras is impractical.

The patent proposes leveraging wearable devices such as the Apple Watch for broader applicability, increased reliability, and the ability to detect various types of emergencies.

Alerting When Swimmers Are In Distress

For instance, if the Watch detects a wearer who is not proficient in swimming entering deeper water, it can promptly dispatch an alert instead of waiting for signs of distress.

These alerts can be transmitted to nearby devices, including those of friends and family, and seamlessly integrate with existing drowning detection and alarm systems to ensure lifeguards are promptly notified.

Apple Watches already boast capabilities to detect and respond to falls, vehicle accidents, and cardiac irregularities. Heartwarming testimonials featured in Apple’s “Dear Apple” video series show individuals whose lives were saved by these functionalities.

As with many patents from Apple, it’s important to note that not all concepts may materialize into actual products. Nonetheless, this innovation stands as a promising addition for potential integration into future watchOS updates.

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Safety

Red Cross Releases Lifeguard VR Training Simulator

New Lifeguard VR Training app released by The American Red Cross provides enhanced surveillance and scanning training for lifeguards.

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Red Cross Releases Lifeguard VR Training Simulator

The American Red Cross has been a pioneer in water safety, aquatic science, certification, and instruction since 1914. Annually, its curriculum trains over 300,000 lifeguards, demonstrating its enduring commitment to ensuring the safety of swimmers.

Lifeguard VR Training: A Deeper Dive

Recently, The American Red Cross took a pioneering leap forward with the introduction of their new Virtual Reality (VR) lifeguard training simulator. This groundbreaking technology promises to transform the way lifeguards are trained, particularly in the crucial areas of surveillance and scanning skills, ultimately enhancing their ability to save lives.

At the recent Association of Aquatic Professionals (AOAP) show held in Reno, Pool Magazine had an opportunity to experience firsthand the innovative lifeguard training simulator developed by the American Red Cross in collaboration with Lucid Reality Labs. Chris Whipple, M.Ed., NREMT, a member of the Scientific Advisory Council of the American Red Cross, spoke about the significance of this technological advancement.

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Julie Hamlin of Pool Magazine got to try Lifeguard VR Training firsthand.
Julie Hamlin of Pool Magazine got to try Lifeguard VR Training firsthand.

“The Red Cross, already the gold standard in water safety and drowning prevention, is enhancing lifeguard training for surveillance skills with the Lifeguard VR virtual reality tool,” stated Whipple, who explained how the tool will help provide effective scanning and surveillance skills that will assist them in identifying individuals in distress and help reinforce cognitive skills through immersive training scenarios.

How The Technology Works

Lifeguards can access the Lifeguard VR app, which offers a range of unique scenarios set in realistic aquatic environments, from the Meta Quest app store. The technology is compatible with all Meta Quest VR devices. In each scenario, lifeguards are placed on an elevated stand within their assigned zone and must swiftly identify individuals in need of assistance. By blowing a virtual whistle, they signal their recognition of the distressed person. Scores are calculated based on performance metrics that evaluate scanning and recognition abilities.

“The award-winning Lifeguard VR tool uses the best cutting-edge technology to ensure that lifeguards are at the top of their game, keeping facility patrons safe,” added Whipple.

Lifeguard VR App by The American Red Cross

Tackling Real-World Problems

This VR lifeguard training simulator is designed to replicate real-world scenarios with remarkable accuracy. It incorporates elements such as typical water behaviors, drowning behaviors, and the presence of other patrons or swimmers. Lifeguards are also challenged by obstacles like lane ropes and floating features, mirroring the complexities they face in actual pool environments.

Moreover, the Lifeguard VR app provides valuable performance metrics, allowing trainers to track progress and identify areas for improvement. Heatmap data on scanning patterns, along with quiz and identification metrics, offer valuable insights into lifeguard competency at various stages of training.

Lifeguard Instructors and supervisors can now provide dynamic scenarios set in a realistic pool environment to analyze surveillance and scanning skills, recognition of drowning response, and support first aid skills,” explained Whipple.

What lifeguards see when using the Virtual Reality app

By harnessing the power of virtual reality, the American Red Cross aims to revolutionize lifeguard training, ensuring that lifeguards are better equipped to respond effectively to emergencies. This innovative approach not only enhances learning outcomes but also offers a more engaging and accessible training experience for lifeguards.

As Whipple aptly summarized, “With the new Red Cross Lifeguard VR app, lifeguards can practice and hone their skills taught in the classroom. By immersing users in dynamic, realistic drowning scenarios, lifeguards are able to improve learning outcomes while learning in an engaging, modern, and accessible way.”

In an era where technology continues to reshape industries across the board, the integration of virtual reality into lifeguard training represents a significant step forward in ensuring water safety and drowning prevention. The American Red Cross’s commitment to innovation underscores their dedication to excellence in safeguarding aquatic environments and protecting lives.

Photo Credits: The American Red Cross

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Manufacturer

SRS Distribution Announces Next Phase of Growth by Combining with The Home Depot to Better Serve Professional Customers

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SRS LOGO
MARCH 28, 2024

SRS Distribution Inc. (“SRS”) announced today that it has entered into a definitive agreement with The Home Depot to be acquired for $18.250 billion. Under the terms of the agreement, SRS Distribution will operate as an independent business unit within The Home Depot, focused on accelerating growth in the Pro market.

Over the past 16 years, the SRS family has become one of the fastest-growing building products distributors in the United States. This proposed transaction will bring together the impressive talent, technology, and capabilities of SRS with The Home Depot’s trusted name and robust platform, expanding SRS’ reach into numerous new product categories and customers.

The proposed acquisition will clear a pathway for accelerated growth with the residential and commercial professional customer by expanding The Home Depot’s Pro capabilities, combining online, retail, and wholesale. The combined platform will open new opportunities for existing suppliers and partners by providing access to SRS’ expert workforce focused on specialty verticals, as well as The Home Depot’s cross-project expertise, product mix, network, and digital assets.

Under the agreement, the SRS senior leadership team will remain with the company to guide its ambitious growth plans. Dan Tinker, President and CEO of SRS, will continue to lead SRS operations under this new structure, reporting to The Home Depot CEO Ted Decker.

“We are proud to be combining with The Home Depot to continue our growth journey with the additional resources and capabilities they will put behind us,” said Dan Tinker, President and CEO of SRS. “We set out to find the optimal strategic outcome for the business, and we strongly believe we have achieved just that. With this combination, the future has never been brighter for our supplier partners, our Pro customers, and our team.”

“SRS’ ability to build leadership positions in each of its trade verticals while generating significant revenue growth is a testament to its strong vision, leadership, culture, and execution,” said Ted Decker, Chair, President, and CEO of The Home Depot. “SRS’ branch network, coupled with The Home Depot’s 2,000+ U.S. stores and distribution centers and comprehensive product offering provides the residential and commercial Pro customer with more fulfillment and service options than ever before. I look forward to welcoming Dan and the entire SRS team to The Home Depot and capturing the exciting opportunity ahead.”

SRS Distribution currently has two private equity investors: Berkshire Partners LLC. (since 2013) and Leonard Green & Partners L.P. (since 2018). “Over the past 16 years, SRS Distribution has successfully grown its business while delivering tremendous shareholder value to its investors and, more uniquely, to
its employees,” said Jon Seiffer, Senior Partner at Leonard Green. “This next chapter with The Home Depot is a logical step in SRS’ evolution and will mutually benefit both companies’ growth prospects for the benefit of all employees, customers, and suppliers,” said Josh Lutzker, Managing Director at Berkshire Partners.

The transaction is expected to close by the end of fiscal 2024 and is subject to regulatory approvals and other customary closing conditions. Jefferies LLC. is acting as lead financial advisor, and Goldman Sachs is also acting as financial advisor to SRS on this transaction.

About SRS Distribution

Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution has grown to become one of the fastest-growing building products distributors in the United States. Since the Company’s inception, it has established a differentiated growth strategy and entrepreneurial culture that is focused on serving customers, partnering with suppliers, and attracting the industry’s best talent. SRS Distribution currently operates under a family of distinct local brands encompassing more than 760 locations across 47 states. SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC. For more information, visit www.srsdistribution.com.

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