Unity Partners Boosts Poolie’s Market Expansion
Unity Partners LP, a principled middle-market investment firm, has successfully concluded a substantial investment in Poolie. Poolie is a thriving pool services enterprise based in Austin, Texas. This strategic partnership aims to fortify Poolie’s position in the rapidly expanding pool services market. The private transaction’s terms remain undisclosed, but both entities expect it to bring transformative changes.
Poolie’s Remarkable Journey
Founded in 2021 by CEO Leslie Elliott, Poolie set out with an ambitious vision to become a dominant player in the pool services industry. Over time, the company has garnered the trust of over 1,200 customers in the Austin area by offering top-notch pool cleaning, repair, and renovation services. The remarkable growth trajectory caught the attention of Unity Partners, which saw the potential for Poolie to flourish further.
Unity Partners is known for its principles-based approach to investments. This alliance with Poolie aligns seamlessly with its commitment to employee ownership. As part of the collaboration, Poolie will introduce a Purpose Plan, allowing its dedicated workforce to share in the firm’s financial success and capital events. This initiative not only fosters employee engagement but also fuels motivation and dedication.
John Block, CEO and Co-Founder of Unity Partners, commended Poolie’s achievements, emphasizing,
“Pool services is a very fragmented industry, and we believe there is ample opportunity to grow through strategic M&A, both in Austin and other metropolitan areas in and beyond Texas.”
Expanding Horizons in a Fragmented Market
The pool services industry in the US estimates its value at $9 billion, with Texas contributing over $1 billion to this figure. Unity Partners recognizes the immense potential within this sector, mainly through strategic mergers and acquisitions. Their ambitious vision extends beyond Austin to encompass other metropolitan areas in and outside Texas. Unity Partners is already in talks with potential partners to expedite this expansion.
Jim Sharpe, Partner and Head of Propel at Unity Partners, expressed confidence in the growth prospects of Poolie, stating,
“Poolie has organically grown revenue by more than 130% this year, and we believe we can ramp this growth by partnering with the Poolie team on several value acceleration initiatives.”
This investment in Poolie marks Unity Partners’ second platform investment in 2023, following their acquisition of NDH, a tax, accounting, and advisory services firm, in May.
