DALLAS – ( Business WIRE )- Unity Partners L.P. (“Unity Partners”) is pleased to announce that it has completed its majority investment in Poolie. This pool service business is based in Austin, Texas. The terms of the private deal were not disclosed.
Poolie, founded in 2021 by Leslie Elliott as CEO with the goal of transforming it into a market leader that excels at what they do. Since then, Poolie has expanded to serve more than 1,200 clients in the Austin region with pool cleaning, repairs, and renovations.
Elliott said, “Poolie had experienced incredible growth and I saw the opportunity to bring in a partner who could provide capital and expertise to help accelerate our trajectory.” I’ve known Unity Partners for many years, and was confident in their principles-based business approach that would allow us to expand our operations, improve our footprint and take our business to the next stage while creating ownership opportunities for great employees.
Each Unity Partners platform investment is designed to encourage employee ownership. Poolie, the company’s CEO, will launch a Purpose Plan that will allow employees to participate in financial success as well as capital events.
John Block, co-founder and CEO of Unity Partners said: “Leslie is a great leader who has executed her vision with Poolie. We are thrilled to bring our resources and expertise in order to build on this success.” Pool services are a fragmented market, and we think there’s a lot of room to grow in Austin, as well as other metro areas within Texas and beyond. We have a good pipeline of potential partners who will help us scale up quickly to achieve our vision.
The market for pool service in the U.S., which includes Texas and other states, is estimated to be $9 billion. Texas accounts for about $1+ billion. It is growing between 3-4% per year.
Jim Sharpe is the Partner and Head Propel of Unity Partners. He said, “Poolie’s organic revenue has grown by more than 1300% this year. We believe we can accelerate this growth through partnering with Poolie on several value-acceleration initiatives.” As the company expands into new geographies and acquires strategic companies, we will invest to develop the team and expand marketing capabilities. We will also leverage technology to improve the customer experience and optimize Poolie’s supply chain.
Unity Partners has made a second platform investment in 2023. The first was in NDH, a tax, accounting, and advisory services company, which it completed in May.
Unity Partners
Unity Partners is an principles-based firm of private equity that partners investors with operators to create better together. We measure our success by the surplus economic we generate and share it with all stakeholders. Our principles are the foundation for building great technology and people-based organizations that have a positive impact on thousands of lives. Our Partner & Propel Strategy identifies opportunities to Partner and Propel with leaders who are ambitious to accelerate growth. We unlock platform scale by acquiring companies and investing in people, processes, and operational levers. Visit unitypartnerslp.com for more information.
About the Poolie
Poolie, a company based in Austin, Texas, has been servicing residential and commercial pools for over 20 years. The services range from simple cleaning and repairs to complete renovations and remodels. Visit www.poolie.com for more information.
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