Aqua-Leisure Recreation Acquires Airhead Sports Group

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.

Aqua-Leisure Recreation Acquires INYO Pool Products

April 6, 2022

Consumer Products

Aqua-Leisure Recreation, a Blackford Capital-backed platform, has acquired Longwood, Florida-based INYO Pool Products as its second add-on since Blackford’s investment. The deal expands Aqua-Leisure’s direct-to-consumer pool repair and maintenance product lineup, enhances omni-channel distribution and cross-selling opportunities, and keeps INYO’s leadership in place while leveraging Aqua-Leisure’s sourcing and operational capabilities.

Horizon Commercial Pool Supply Acquires Aqua Source, Inc.

August 12, 2025

Industrial Services

Horizon Commercial Pool Supply, a portfolio company of Northrim Horizon, has acquired Aqua Source, Inc., a provider of commercial aquatic facility solutions headquartered in Elk Grove, California. The add-on acquisition closed on August 12, 2025; Generational Group served as M&A advisor to Aqua Source on the transaction.

Boston Multi Family Office Acquires Aqua Group (Jersey)

November 19, 2024

Wealth Management

Boston Multi Family Office (Boston MFO) has acquired Aqua Group, a Jersey-based trust and fiduciary services firm founded in 2012. The deal — Boston's third acquisition since investor Horizon Capital backed the business — expands Boston's jurisdictional footprint into Jersey and the UK and brings Aqua's staff and capabilities into Boston's multi-jurisdictional wealth offering.

Continuum Ventures Acquires Majority Stake in Action Water Sports

March 13, 2023

Retail

Continuum Ventures, the investment arm of the Doug and Maria DeVos family, has acquired a majority stake in Action Water Sports, a four-location premium boat dealership headquartered in Hudsonville, Michigan. Founder Jerry Brouwer will remain as a partner and president as Continuum integrates Action into its growing marine platform to expand its dealer, service, and marina footprint.

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.