Latham International Goes To Littlejohn
Swimming pool components company sold for $184 million in a prepackaged bankruptcy
January 23, 2010
Greenwich, Conn.-based private-equity firm Littlejohn & Co. acquired residential swimming pool components company Latham International in a prepackaged bankruptcy sale.
The sale, which was approved by the U.S. Bankruptcy Court for the District of Delaware, allows Latham to reduce its previous debt load by $180 million. The bankruptcy plan gives the company’s lenders stock in the company and a $20 million subordinated secured note.
Latham was previously a portfolio company of Brockway Moran & Partners, a Boca Raton, Fla.-based private-equity firm.
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