Polyair Inter Pack Inc. has sold various assets of its pool division — Cantar Pool Products of Youngstown, Ohio — to the company’s former president. Terms of the transaction were not disclosed.
The Toronto-based parent company sold parts of the pool accessories manufacturer to privately held GL International, LLC, a firm created by Gary Crandall, former Cantor president and 26-year company veteran, and Larry Schwimmer, Swimline Corp. president.
Crandall and Schwimmer formed GLI as a vehicle to acquire strategic targets in certain segments of the pool industry. Crandall will become GLI’s president/CEO, while Schwimmer will continue at the helm of Swimline.
“Swimline will stay what it is, and I will remain as president,” Schwimmer said. “I’m more like a silent partner [in GLI] even though everyone knows about me. I’ll be more on the sidelines, consulting and adding financial assistance.”
The newly formed GLI will do business under the name GLI Pool Products and has retained the rights to the Cantar brand name and all related cover and accessory trademarks.
“We think there are a lot of legs left in the pool industry with all the growth and consolidation,” Crandall said. “It is still on the cusp and competes well with other recreation industries. These are products that appeal to the segment of the market we feel has strong buyers, and it’s one we want to be in.”
Polyair Inter Pack, which also has a packaging division, has been trying to sell its pool division for some time. In the wake of the sale to GLI, Polyair is entertaining suitors for its Jacuzzi equipment division and Atlantic aboveground pool division.
The Polyair packaging division will continue to manufacture solar blankets and wall foam products, but GLI will market and sell them.
“Polyair owns the bubble machines [to make packing material], so they’re keeping the solar blanket line,” Crandall said. “GLI will do the sales and the warranties and order entries, and Polyair will build and ship them.”
Both firms will remain in Youngstown. Polyair will carry on at its current location, while GLI and its Cantar line move to a new facility.
GLI officially began operations June 16 and plans to boost its work force.
Youngstown officials are putting together an incentive package for GLI to hire more employees and make a greater investment in its new location, which was once an insulation manufacturing plant.
“We are bringing new products to Youngstown that have been spread out at the other Cantar factories,” Crandall said. “We will be increasing employment here and moving into the building by the end of the year.”