Balance Point Announces its Investment in SPS PoolCare

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Aug 27, 2024, 11:30 ET

WESTPORT, Conn., Aug. 27, 2024 /PRNewswire/ -- Balance Point Capital Advisors, LLC ("Balance Point"), in conjunction with its affiliated funds, Balance Point Capital Partners IV, L.P. and Balance Point Capital Partners V, L.P., is pleased to announce its investment in SPS PoolCare ("SPS", or the "Company"), a portfolio company of Storr Group ("Storr"), a Texas‑headquartered private equity firm focused on building platforms within fragmented sectors. Balance Point provided debt capital to support SPS's current acquisition pipeline and extended significant available capital for future M&A activity.

Headquartered in Austin, TX, SPS PoolCare provides residential pool services including maintenance, repair, and renovation services to thousands of customers across Texas, Florida, Arizona, and Nevada. Since its inception in 2021, the Company has been highly acquisitive, bringing 80+ brands under its ownership. SPS's technology-first approach to service delivery has enabled the seamless integration of these brands and gained the Company the title of #1 pool service company in the United States by Pool and Spa News.

"Balance Point is excited to partner with SPS and Storr as they continue to establish themselves as leaders in the residential pool service industry," said Seth Alvord, Managing Partner at Balance Point. "SPS's impressive application of technology to streamline operations and facilitate acquisition integration is evident across the organization. We look forward to continuing to support SPS on their exciting journey ahead."

"We are pleased to welcome Balance Point as our first debt capital partner," remarked Lance Martin, President and COO of SPS. "Their service industry expertise, collaborative approach, and robust capital base will be crucial as we continue to expand while maintaining best-in-class pool maintenance and repair services throughout the Sun Belt."

Fraser Ramseyer, Chairman and CEO at Storr, said, "From the outset, Balance Point recognized our vision for SPS and designed a tailored financing structure that aligns with our mission to consolidate the fragmented pool services industry. We are thrilled to have Balance Point as a capital partner at SPS and look forward to collaborating with them again in the future."

About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $2.1 billion in assets under management, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.

About SPS PoolCare
As the #1 swimming pool services company in the United States ranked by Pool and Spa News, SPS PoolCare is on pace to perform one million weekly pool services per year and employs more than 500 staff across four states. Backed by Storr Group, the company is focused on growing its family of brands across the Sun Belt, as it continues to make owning a pool a joy. SPS PoolCare is committed to creating a world-class service experience for its customers and being an employer-of-choice for its team members.
For more information, visit www.spspoolcare.com

About Storr Group
Storr Group is a leading operationally focused private equity firm headquartered in Austin, Texas. Storr builds and scales best-in-class platforms across the United States, elevating industries for consumers, employees, and key stakeholders. The firm predominantly operates within fragmented, high-margin sectors – creating value through consolidation and its methodical Storr Business Systems playbook that drives operational excellence, industry-leading growth, and technology transformation. Storr Group is actively operating multiple scaled platforms and has executed nearly 100 investments across its platforms. For more, visit www.storrgroup.com.

Media Contact:
Adam H. Sauerteig
Office: 203-652-8555
[email protected]

SOURCE Balance Point Capital