Putnam County commercial pool company acquired
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A commercial swimming pool company in Putnam County that is playing a part in U.S. Olympic Swimming Trials is under new ownership.
Spear Corp., headquartered in the town of Roachdale, has been acquired by Landmark Aquatic, a commercial pool services company based in Maryland Heights, Missouri, though financial terms of the deal were not disclosed.
Landmark said in a news release this week that the acquisition further expands its geographic reach in the Midwest and bolsters its capabilities.
“This acquisition not only strengthens our position in the market but also enables us to offer an even broader range of services to an increasing number of clients.” Landmark President Russell Leto said in the release. “Joining forces with Spear enables us to enhance our reach into several new states and deliver our comprehensive suite of services to a wider audience of education, municipal and private club developer clients.”
Through the acquisition, Spear joins Progressive Commercial Aquatics and Westport Pools as a subsidiary of Landmark.
Spear Corp. specializes in the design, construction, renovation and maintenance of a variety of commercial pool types used in parks and recreation attractions, schools and universities, and wellness providers.
Landmark did not specify if any jobs would be affected by the acquisition, but said the combined business will “continue to be supported by a highly-skilled, technical workforce.” Multiple requests for more information from Inside INdiana Business were not returned.
Spear Corp. President Brian Spear called the deal “transformative” for the company.
“Our two companies are rooted in similar core values, providing a strong foundation for success,” Spear said in the release. “By combining our strengths and resources, we can offer our customers a more comprehensive suite of aquatic solutions, ensuring their projects are completed efficiently and to the highest standards.”
Spear Corp. is one of two pool companies that will be working to build the pools used at the U.S. Olympic Swimming Trials taking place in June at Lucas Oil Stadium in Indianapolis. The other is Italy-based Myrtha Pools.
The setup will include a 50-meter, 10-lane competition pool and two warmup pools, one 50 meters and the other 25 meters.
It was not clear if the acquisition will have any effect on Spear’s work at the trials.