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Leonard Green Seeks $1bn For Leslie’s Poolmart « Back
Selina Harrison, July 2010
(14 July 2010)

Leonard Green & Partners is seeking over $1bn through the sale of Leslie’s Poolmart Inc, the largest swimming-pool supplies retailer in the US.

According to the Wall Street Journal (WSJ), with the abundance of activity in the secondary buyout market at present, Leonard hopes to transfer ownership of the company to another buyout firm. People familiar with the situation told the WSJ that firms interested in buying the company include Bain Capital, Madison Dearborn Partners and TPG.

Leonard Green has owned Leslie’s since 1997, when it took the company private in a $140m deal in partnership with Hancock Park Associates. According to the WSJ, for the financial year ended 3 October 2009, Leslie’s had sales of $510m and, over the past 12 months, has generated EBITDA of around $110m. Leslie’s also has debts of around $250m.

When contacted by the WSJ for comment on the sale, a representative for Leslie’s did not immediately return a telephone call.

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