“With roots that go back nearly a century, Hayward has grown from a small, family-run company to a leading manufacturer of pool equipment and provider of enjoyable outdoor experiences.” Hayward CEO and President Kevin Holleran writes in his message, which opens the prospectus. Here’s more from the latest S-1/A filing: “We have an estimated North American residential pool market share of approximately 30%. We believe that we are well-positioned for future growth. We are an industry-leading global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems. With the pool as the centerpiece of the growing outdoor living space, the pool industry has attractive market characteristics, including significant aftermarket requirements, innovation-led growth opportunities and a favorable industry structure. We are a leader in this market with a highly recognized brand, one of the largest installed bases of pool equipment in the world, decades-long relationships with our key channel partners and trade customers and a history of technological innovation. Our engineered products, which include various energy efficient and more environmentally sustainable offerings, enhance the pool owner’s outdoor living lifestyle while also delivering high quality water, pleasant ambiance and ease of use for the ultimate backyard experience. Aftermarket replacements and upgrades to higher value Internet-of-Things-enabled (“IoT”) and energy efficient models are a primary growth driver for our business as we estimate that aftermarket sales represented approximately 75% of net sales in Fiscal Year 2020 (the year ended Dec. 31, 2020).

(Note: Hayward Holdings priced its IPO of 40.28 million shares at $17 each – the low end of its $17-to-$19 range – on March 11, 2021, to raise $684.76 million.)