Hasa, a portfolio company of Wind Point Partners, has acquired Orenda Technologies, a manufacturer and supplier of specialty pool chemicals.
Hasa is a producer and distributor of water treatment products used to sanitize and maintain water systems, including swimming pools, water tanks, and containment vessels in the recreational, industrial, and municipal sectors. Hasa operates seven facilities in California (4), Arizona, Washington, and Texas. The company, led by CEO Chris Brink, was founded in 1964 and is headquartered 35 miles northwest of Los Angeles in Saugus, California.
Wind Point acquired Hasa from GHK Capital in January 2023 and the buy of Orenda Technologies is Hasa’s first add-on acquisition under Wind Point ownership.
Orenda Technologies, led by CEO Harold Evans and President Jarred Morgan, was founded in 2010 and is headquartered near Dallas in Fairview, Texas. Post-closing, Mr. Evans will become and executive advisor to Hasa, and Mr. Morgan will continue to lead the Orenda business under Hasa ownership.
The acquisition of Orenda expands Hasa’s product portfolio and geographic reach for recreational water treatment customers across the entire continental United States.
“We are thrilled to announce Hasa’s expansion into these professional-grade specialty products, which the industry increasingly recognizes as critical to maintaining safe, clean and clear water in swimming pools and spas,” said Mr. Brink. “With Hasa’s capabilities and resources plus Orenda’s top-notch team and market-facing partners, we will together provide significant value to pool professionals, residential and commercial pool customers, and our channel partners.”
“Orenda represents an excellent addition to the Hasa platform,” said Peter Leemputte, a principal at Wind Point. “Acquisitions are a focal point of our value creation plan for Hasa, and we are excited to inaugurate our M&A program with the acquisition of such a high-quality business like Orenda.”
Chicago-based Wind Point invests from $50 million to $100 million in companies with EBITDA of at least $10 million. Industries of interest include business services, consumer products, and industrial products.
Wind Point is currently investing out of Wind Point Partners X LP, a new fund that was launched in 2022 with a target of $1.7 billion. Wind Point’s earlier fund, Wind Point Partners IX LP, closed in February 2021 with $1.5 billion of capital and, to date, is the largest fund ever raised by Wind Point.
© 2023 Private Equity Professional | March 29, 2023
