Premium Leisure Hot Tubs Purchased By LPI
LPI Inc. announced its acquisition of Florida-based Premium Leisure Spas and Swim Spas. This is LPI’s fifth acquisition in the last 30 months. LPI plans to keep the Florida manufacturing operation in place and convert the current 90,000-square-foot St. Petersburg building into a swim-spa-only manufacturing facility. It also plans to transfer Premium Leisure’s portable hot tub business into LPI’s existing Tennessee facility.
LPI says the acquisition will solve the capacity limitations it has faced since acquiring Catalina Spas & Swim Spas in late 2016.
“Our swim spa business has been much better than we anticipated, which drove us to go out and secure a swim-spa only facility,” says Dave Hatley, president of LPI. “Over the course of the last 10 months we realized the space in our current building would never work for the current demand we are facing. I have always been very impressed with the design and product lines Brian Wiley has created on all of Premium Leisure’s portable hot tubs and swim spas. The LPI team is super excited to continue manufacturing those lines for Premium Leisure’s worldwide dealer base.”
Premium Leisure has been manufacturing a wide variety and acrylic spas since 2007 sold mostly through independent dealers across the globe. Hatley says turning Premium Leisure’s current building into a swim-spa only facility and LPI’s Tennessee building into a portable-only facility is a win for everyone and especially their customers. “This will allow us to almost immediately increase production on both our portable and swim spas with highly experienced teams in both facilities,” Hatley says.
LPI Inc. currently manufacturers acrylic spa and swim spa brands sold across the globe through distributors and independent dealers. The latest acquisition is part of LPI’s strategic plan to make America the No. 1 producer of hot tubs in the world. “We don’t plan on taking our foot of the gas until we can say the USA is once again home to the largest hot tub producer in the world,” Hatley says.