Riverbend Sandler Pools, a company formed with the acquisition of three prominent Dallas pool/spa builders, has purchased its first service firm as it seeks to gain a significant presence in the service, maintenance and renovation sector.
Last year, Chicago-based Concentric Equity Partners recapitalized first Riverbend Sandler Pools of Plano; then Pulliam Pool Builders and Pulliam Services of Fort Worth; and Claffey Pools of Southlake. The company adopted the name of the original firm to be bought.
At the time, officials said the company planned to enter the service market as well, first by starting service divisions for the builders that didn’t already have one, then through acquisition.
Having achieved the first part of that equation, the company made its first acquisition last month, with the addition of Crystal Clear Custom Pools of Midlothian, Texas, which provides service, maintenance, repairs and renovations.
Its former owner, Tom Sheehy, will remain as general manager of Crystal Clear, which will keep its current brand for the time being.
Riverbend Sandler has made other investments in its service arm. Among other things, it hired a vice president of service and maintenance, Marcos Valdez, and developed a career path by which employees can graduate from pool cleaner to filter cleaner to start-up tech, then service tech.
The Crystal Clear purchase opens other avenues for Riverbend Sandler as well, said its CEO, Bruce Mungiguerra. “[Crystal Clear is] on the outskirts in all three of our markets… so they give us another geographic area to clove into.”
Currently the company also is preparing to enter the Houston market, with several area companies — both service and construction firms — having received Letters of Intent. Riverbend expects to make three to six more acquisitions by year’s end, Mungiguerra said.
Next will come Austin and San Antonio, he added, before the company considers crossing state borders.
