Bow River Capital Invests in Westport Pools and Progressive Commercial Aquatics to Form Landmark Aquatic

Landmark Aquatic Acquires Spear Corporation

March 12, 2024

Construction

Landmark Aquatic, a national commercial pool services platform backed by Bow River Capital, has acquired Indiana-based Spear Corporation to expand its Midwest footprint and strengthen renovation, design, construction, and maintenance capabilities. The deal adds Spear's technical expertise and customer relationships (education, municipal and private club developers) to Landmark's platform, which is supported by Bow River Capital.

Landmark Aquatic Acquires CEM Aquatics

January 7, 2026

Construction

Landmark Aquatic has acquired CEM Aquatics, a Salt Lake City–based commercial aquatics design, build, renovation, and maintenance firm with more than four decades of experience. Founder Craig Nielsen and the CEM leadership team will remain in place as integration begins, with Landmark saying the deal expands its capabilities and service footprint in the aquatics sector.

Bow River Capital Recapitalizes Progressive Roofing

October 5, 2021

Construction

Denver-based private equity firm Bow River Capital completed a recapitalization of Progressive Roofing, a Phoenix-headquartered commercial roofing services provider. Progressive's management participated in the transaction, retaining a meaningful ownership stake as Bow River provides capital to support growth and geographic expansion.

Easton Select Group Acquires New England Aquatics, Inc.

May 27, 2025

Industrial Services

Easton Select Group, a PE-backed national pool services platform, has acquired New England Aquatics, Inc., a West Warwick, Rhode Island-based commercial pool repair and maintenance specialist. The deal expands Easton Select's capabilities into commercial pool services (municipal, institutional, hospitality) while the New England Aquatics team will remain in place and continue operating under its brand.

Blackford Capital Invests in Aqua‑Leisure Industries

January 13, 2021

Consumer Products

Grand Rapids-based private equity firm Blackford Capital announced a majority investment in Aqua‑Leisure Industries, a Boston-area designer, manufacturer and distributor of water-sport and pool leisure consumer products. Blackford said it will support organic growth, expand distribution and pursue add-on acquisitions while the Aqua‑Leisure management team remains in place; financing partners included Mercantile Bank and Muzinich & Co., with Rush Street advising on debt financing.

Horizon Commercial Pools Acquires Valley Aquatic Solutions

February 21, 2024

Building Products

Horizon Commercial Pools, a portfolio company of permanent-capital investor Northrim Horizon L.P., has acquired Valley Aquatic Solutions, a Wisconsin-based provider of commercial pool chemicals, equipment, service, water-quality management, renovation and finishing. The deal is an add-on to Horizon's existing platform to deepen its Midwest footprint and continues the owners' transition of the business from founders Ken and Karen Walther to Horizon.