Consolidation of the pool/spa service segment has reached a new level, as the top two firms on the PSN and Jandy Top 50 Service list – and the two largest consolidators –have become one.
Last month, Austin, Texas-based SPS PoolCare acquired Tampa, Fla.-based Pool Troopers. The former ranked #1 in the 2025 Top 50 Service list, while the latter placed second.
This makes the 191st acquisition for SPS, and by far its largest. According to the acquiring company, the transaction expands its footprint to more than 42,000 weekly recurring customers across 19 markets in five states.
“We had the rare opportunity to take the top two companies in the industry, which run similar strategies, and pull them together,” said Lance Martin, CEO/COO for SPS. “[By combining them], there’s that much more opportunity, and they’re that much stronger, which makes it a better investment for the investor group, the employees, and ultimately makes it better for the customers as well.”
Pool Troopers was previously owned by Shoreline Equity Partners of Jacksonville, Fla., which remains a minority shareholder in the combined company. SPS is backed by the platform Storr Group in West Palm Beach, Fla. Balance Point Capital provided debt capital to SPS for the purchase.
“For customers and the many valued team members who serve them every week, this acquisition expands service coverage and strengthens the platform behind their work,” said Fraser Ramseyer, CEO of Storr Group and founder of SPS PoolCare. “It reflects our multi-year strategy of building – and investing in – institutional-grade operating infrastructure, from technology and field systems to standardized service
delivery and workforce development. With experienced leadership in place, the platform is positioned to sustain consistent execution, while continuing to scale across the country.”
This transaction increases SPS’ earning power by approximately 65%. For 2024, SPS reported a total service revenue of $87 million and 33,713 accounts, while Pool Troopers reported $57 million in service revenue and 16,182 accounts. In 2025, Martin said, the companies generated a combined $157 million.
SPS and Pool Troopers placed among four major consolidators that ranked in the Top 10 of PSN’s list last year, drastically overshadowing the remaining 46 firms in size, with the fifth highest-earning company generating approximately 25% of
the fourth highest earner.
Both companies have focused on the sunbelt. Being headquartered in Florida, Pool Troopers had heavy coverage in the Sunshine State. So this acquisition is expected to accelerate SPS’ move into such Florida markets as Tampa, Orlando, West Palm Beach, Cocoa Beach, Jacksonville, and Key West, as well as in Atlanta, Martin said.
The two companies had overlapping coverage in Naples, Fort Meyers, Port Charlotte, and Sarasota, Fla., as well as the Texas markets of Austin and the Dallas/Fort Worth Metroplex, and Phoenix.
While the details of the integration continue to be ironed out, Martin said many of Pool Troopers’ locations will retain their current branding and that all local service teams, including administrative, will remain in place.
“This has no impact on the local teams in the branches,” Martin said. “All employees stay intact in the local teams. It’s business as usual, even after integration.”
At the higher echelons of Pool Trooper management, some executives are choosing to transition out while others will remain, he added.
Along with geographic expansion, SPS expects the acquisition to speed up its growth in the commercial market, where Pool Troopers had a stronger hold, reporting $14.1 million in commercial service revenue in 2024, compared to SPS’s $4.3 million.
Pool Troopers headquarters also functions as a branch, so that facility will remain in place and serve as a secondary headquarters, with some corporate support staff stationed there, Martin said.
Even as it begins the process of absorbing such a large addition as Pool Troopers,
Martin said, SPS does not plan any pauses in its acquisition activity. “The M&A side will not be slowing down,” he said.
