Hayward Industries, Inc. Acquires Paramount Leisure Industries, Inc.

ELIZABETH, N.J., Aug. 23, 2018 (GLOBE NEWSWIRE) -- Hayward Industries, Inc., a leading global manufacturer and marketer of residential and commercial pool equipment and industrial flow control products, today announced it has signed a definitive Purchase Agreement to acquire Paramount Leisure Industries, Inc. The transaction is expected to close during the month of August.

Known in the industry as Paramount Pool & Spa Systems, the company has a strong heritage and reputation for high quality, innovative and state-of-the-art pool products. Current CEO Lewis "Buzz" Ghiz has built on the foundations of the company started by his father George back in 1964 to create a world class business synonymous with service, quality and innovation. Recognized as one of the world's leading in-floor cleaning system manufacturers, Paramount has diversified into alternate sanitizer technology, energy efficient white goods, lighting and other products which optimize pool/spa operation and enjoyment.

Clark Hale, CEO of Hayward Industries stated, "We are delighted to join forces with Buzz and the Paramount team. Their culture of innovation and superior customer service combined with Hayward's global reach will create significant growth opportunities for both companies, our customers, and our employees."

Buzz Ghiz shares the excitement of this next chapter for his business. "We've built an exceptional company in large part due to the relationships established with our valued clients and friends over many years. Hayward acknowledges this and I believe they will be good stewards of the Paramount brand. We will operate as an autonomous business under the Paramount name with the same structure we have today; the same management team, sales force, customer service team and operations.

We are committed to growing the business with the same passion and culture and by always staying highly focused on being customer centric. We look forward to this relationship and this new phase for Paramount", said Ghiz.

Paramount in-floor cleaning and circulation systems work automatically to minimize maintenance time. They also function as high efficiency circulation systems. Owners can expect to save up to 30% on chemicals and energy over the lifetime of their pool. Paramount's line of UV, Ozone and UVO3 combination sanitizers deliver a level of water purity unmatched by Chlorine alone. These supplemental sanitizers work synergistically to inactivate chlorine resistant microorganisms and remove organic particles to leave sparkling safe water. Paramount has a wide array of engineered white goods ranging from unblockable drains and automatic water levelers to their new venturi skimmer - the perfect partnering technology for variable speed pump installations.

About Hayward

Hayward Industries, Inc. (http://www.haywardindustries.com/shop/HaywardIndustries_10201_10054_-1) is a leading global manufacturer of residential and commercial pool equipment and industrial flow control products. Headquartered in Elizabeth, NJ, Hayward markets a full line of energy efficient pool and spa equipment including pumps (https://www.hayward-pool.com/shop/en/pools/res-in-ground/res-pumps), filters (https://www.hayward-pool.com/shop/en/pools/res-in-ground/res-filters), heaters (http://www.hayward-pool.com/shop/en/pools/res-in-ground/res-heaters), cleaners (https://www.hayward-pool.com/shop/en/pools/res-in-ground/res-cleaners), salt chlorinators (https://www.hayward-pool.com/shop/en/pools/res-in-ground/res-sanitization), automation (https://www.hayward-pool.com/shop/en/pools/res-in-ground/res-automation), lighting (https://www.hayward-pool.com/shop/en/pools/res-in-ground/res-lighting), safety (http://www.hayward-pool.com/shop/en/pools/res-in-ground/res-safety) and flow control (http://www.haywardflowcontrol.com/shop/en/flow-control) products. Hayward Products and trademarks include OmniLogic, VS Omni, TriStar, MaxFlo, Super Pump, AquaRite, TurboCell, Navigator, Pool Vac, AquaVac, Swim Clear, and CAT Controllers. Hayward products are sold worldwide. For more information contact Hayward at [phone] or visit Hayward.com (http://www.hayward-pool.com/).

About Paramount

Paramount Leisure Industries is a world leading supplier of in-floor pool cleaning systems. Headquartered in Chandler, Arizona Paramount markets in-floor cleaning systems as well as innovative pool sanitization products including UV systems and Ozone systems, energy efficient white goods, lighting and other pool/spa products. Trademarks include Ultra UV2, ClearO3, SwingJet, SwingSweep, and VectorJet. Paramount products are sold worldwide. For more information contact Paramount at 480-893-7607.

For more information, contact:
Dave MacNair
Phone: [phone]
Email: [e-mail]

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Source: Hayward Industries, Inc. via Globenewswire