Just last year, Anthony & Sylvan Pools Corp. held the distinction of being the only publicly traded pool builder in the industry. This year, that label no longer applies after the company ranked No. 2 on the Pool & Spa News Top 50 Builders list decided to go private again.
Anthony & Sylvan raked in $180.5 million in 2003, up nearly 14 percent from the year before when revenue slipped a few percentage points. Today, shares of the company trade on the over-the-counter market, aka Pink Sheets, which plays host to approximately 3,300 companies. As of July 20, the stock was trading at $4.17, up 56 percent from its average price in 2003.
In many ways, not much has changed for the Mayfield Village, Ohio-based company since last year. It still operates about 40 design centers in 22 geographic markets and maintains a strong retail presence. However, the company recently closed two of its storefronts — one in the booming south Florida market — and also was downgraded in June by Morningstar Inc. The financial services company lowered Anthony & Sylvan’s growth and profitability ratings.
Despite these ups and downs, the company maintains that the decision to go private was based on a strategic move to “reduce costs.”
“Being private will allow us to be able to focus our management time on operating and running the business,” said Chief Financial Officer Bill Evanson in a Pool & Spa News article last December after the decision was made.
That focus includes enhanced training and incentives for employees. The end goal seems to be improving customer service — something competitors say would benefit the corporate giant’s image.
The business originally formed when Sylvan Pools and Anthony Pools merged in 1996. Since then, the company has generated incredible numbers — both in sales revenue and volume, installing nearly 4,000 pools that averaged approximately $42,000 apiece in 2003.
- Top 50 Builders
View the list of the Top 50 Builders.
- 1 Blue Haven Pools & Spas
- 2 Anthony & Sylvan Pools Corp.
- 3 Paddock Pools
- 4 Shasta Industries
- 5 Swan Pools