The Buyout Show with Fexingo · 2026-07-11 · 9 min
Swimming pools are everywhere in the US - over 10 million residential pools - and private equity has noticed that pool service is a perfect roll-up target: recurring revenue, high margins, fragmented local mom-and-pops. Lucas explains why firms like Leonard Green & Partners are buying pool route operators, how the math works on a $150,000 route purchase, and why the pool industry's 2.5 percent annual growth rate makes it a defensive play. Luna questions whether consolidation can survive the labor shortage for certified pool operators. They walk through the economics: a typical 200-pool route generates about $200,000 in annual revenue with 40 percent EBITDA margins, and PE firms are paying 7 to 9 times EBITDA for these businesses. They also discuss the risk of the 'pool guy' brand equity vanishing when a local operator gets absorbed. If you own a pool company or think about buying one, this episode gives you the deal math.
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