An Austin-based, publicly held collection of contracting firms is making its way into the Texas pool and spa industry.
In early February, AVEW Holdings Inc. purchased MetroPlex Commercial Pools, a residential and commercial contractor in Dallas. According to AVEW, MetroPlex has been in business since 1980, and has averaged annual revenues of $2.8 million over the last five years.
In 2014, AVEW purchased Fantastic Pool Services, a service and renovation firm in Austin. The holding company also owns Austin Premier Pools (not affiliated with the national builder), Austin Remodel & Outdoor Living, and other contracting and development firms, both residential and commercial.
The MetroPlex purchase marks AVEW's sixth in 10 months, the second in the pool industry. Its backing recently increased to $10 million, from the $5 million financial facility it previously had from the same small private investment firm.
Avew Holdings was founded in 2010, initially serving the Austin area. It projects 2015 revenues at $15 million. Read More