Harris Williams & Co. Advises Swimways Corp. on its Sale to Spin Master Corp.
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the sale of Swimways Corp. (Swimways) to Spin Master Corp. (Spin Master; TSX:TOY). Swimways designs and manufactures innovative outdoor recreation products for the pool, beach and backyard under three unique brands (Swimways®, Kelsyus® and COOP®) that are sold in storefronts around the world. Harris Williams & Co. served as the exclusive advisor to Swimways. The transaction was led by Corey Benjamin and Marshall Printy of Harris Williams & Co.’s Consumer Group and Derek Lewis and Jenson Dunn of the firm’s Richmond office.
“Through continued product development, powerful licensing relationships and strategic acquisitions, Swimways has established itself as a leading manufacturer and marketer of innovative products that are synonymous with warm weather fun and premium product quality,” said Corey Benjamin, a director at Harris Williams & Co. “Spin Master’s partnership with Swimways gives the Spin Master platform a collection of well-known brands, a strong presence in a highly complementary and counter-seasonal category and additional opportunities to monetize its own intellectual property.”
“Harris Williams & Co. has had a long relationship with Swimways and the Arias family,” added Derek Lewis, a managing director at Harris Williams & Co. “We are excited to not only achieve a great outcome for David Arias and his family, but also to find a great partner for David as he focuses on new product development and growing the business within the Spin Master umbrella of brands.”
Headquartered in Virginia Beach, Virginia, Swimways is a leisure and recreational water products manufacturer whose mission is to make free time more fun through innovation. From its portfolio of licensed Swimways® pool chairs and toys to its line of innovative COOP® games and balls, Swimways products are must-haves for active families. The company is respected for the quality and integrity of its products and services and is passionate about making sure its customers are safe in and around the water.
Spin Master is a leading global children's entertainment company that creates, designs, manufactures and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Zoomer™ Dino, Bakugan Battle Brawlers™, Air Hogs® and 2015 Toys of the Year, Bunchems and Meccanoid G15. Since 2005, Spin Master has received 63 TIA Toy of the Year (TOTY) nominations with 16 wins across a variety of product categories. Spin Master has been recognized with 12 TOTY nominations for Innovative Toy of the Year, more than any of its competitors. Spin Master is among a limited number of companies that not only develop and produce global entertainment properties, characters and content, but also monetize that content through the creation, sale and licensing of products. To date, Spin Master has produced six television series, including 2007 hit series Bakugan Battle Brawlers and its current hit PAW Patrol, which is broadcast in over 160 countries and territories globally. Spin Master employs over 1,000 people globally with offices in Canada, United States, Mexico, France, Italy, United Kingdom, Slovakia, Czech Republic, Germany, Sweden, the Netherlands, China, Hong Kong, Japan and Australia.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.