Leslie's
Leslie's is a United States specialty retailer focused on swimming-pool, spa, backyard and related recreational supplies.
Last updated August 31, 2026
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Overview
Leslie's, Inc., operating as Leslie's Swimming Pool Supplies, is a United States specialty retailer serving swimming-pool and spa owners, operators and maintenance professionals. The company began in 1963 with a single store in North Hollywood, Los Angeles, founded by Phil Leslie, Jr. with Raymond Cesmat. It subsequently developed a store-based retail model centered on recurring pool-maintenance needs rather than occasional discretionary purchases. Its assortment includes pool chemicals, water-treatment products, cleaning equipment, pumps, filters, replacement parts, safety products, toys and accessories. The company also serves hot tubs and spas and sells patio, backyard and outdoor-living products. Leslie's has historically competed through geographic density, product breadth and customer assistance. Pool maintenance is technically demanding and often requires repeated purchases throughout the year, giving a specialized retailer opportunities to provide testing, product guidance and replacement components in addition to ordinary merchandise sales. The chain has also sold private-label pool products, which represented a substantial part of its sales in the period described in the reference material. Beyond physical stores, the company uses its website, distribution channels and special-order processes, with more than 30,000 items available across those channels according to the cited company information. The business experienced a major ownership crisis in the late 1980s. A dispute between Leslie and Cesmat over the company's future led to litigation and a California court-ordered sale. In 1988, private-equity firm Hancock Park Associates acquired the company in a highly leveraged transaction for $23 million. The transition was contentious: managers at many stores initially refused to open in support of Phil Leslie, although the new owners and management eventually replaced managers who would not operate the stores. The company returned to profitability in the early 1990s and completed a 1991 initial public offering, using proceeds to repay debt and support expansion. Leslie's expanded from 66 company-operated stores at the beginning of 1989 to 259 by the end of 1996. Growth included the 1992 acquisition of Sandy's Pool Supply, a business partly owned by Phil Leslie. Hancock took the company private again in 1997 in a transaction assisted by Leonard Green & Partners. During the following decade, ownership interests shifted among financial sponsors, including CVC Capital Partners and GSO Capital Partners. In 2017, Leslie's Poolmart was acquired by L Catterton. The store network grew substantially during the 2010s, reaching more than 750 locations in 2014 and approximately 910 in 2015. The reference material describes the company as having more than 975 stores in 37 U.S. states, with particularly strong presences in Arizona, California, Florida, Georgia and Texas. It reports approximately 3,500 year-round employees and a seasonal workforce exceeding 5,000 during the peak summer period. In October 2020, Leslie's filed for another public offering and announced the closing of an offering of 46 million common shares on November 2, 2020. Michael Egeck became chief executive in February 2020 and resigned in September 2024, when Jason McDonell was appointed chief executive and joined the board. Leslie's remains an active specialty retailer whose core proposition is convenient, broad and technically oriented access to pool and spa maintenance products.
History
Leslie's was established in 1963 when Phil Leslie, Jr. and Raymond Cesmat opened a swimming-pool supply store in North Hollywood, Los Angeles. The founders expanded the business into a chain serving the growing residential pool market in the Greater Los Angeles area. Its business model was built around the recurring need for chemicals, cleaning products, equipment, parts and accessories. The partnership became unstable in the late 1980s. Leslie and Cesmat disagreed about the company's future, and Cesmat sought to sell his interest. When the parties could not complete the transaction at the previously discussed price, Cesmat filed for dissolution of the corporation. In 1988, a California superior court ordered that the company be sold. Hancock Park Associates acquired Leslie's in a hostile, court-directed transaction for $23 million. Phil Leslie received $10 million but publicly objected to the manner in which control had been removed from him. The sale was highly leveraged, and managers at many stores initially refused to open as a show of support for Leslie. The new owners eventually replaced managers who did not resume operations. The company recovered financially in the early 1990s. In 1991, it completed an initial public offering that raised $28 million through the sale of 47 percent of the company. The proceeds were used to reduce debt and finance expansion. Store growth accelerated: the company increased from 66 company-owned and operated stores at the beginning of 1989 to 259 by the end of 1996. In September 1992, it added 23 locations through the acquisition of Sandy's Pool Supply, a company partly owned by Phil Leslie that had grown from two stores. Hancock took Leslie's private again in 1997 for $140 million with assistance from Leonard Green & Partners. In 2010, Leonard Green explored a sale at a valuation target above $1 billion. Instead of a full sale, it sold a significant interest to CVC Capital Partners and GSO Capital Partners. Leslie's continued expanding its store base, reporting more than 750 locations in 2014 and 910 in 2015. In 2017, Leslie's Poolmart was acquired by L Catterton. The retailer's footprint later exceeded 975 stores across 37 U.S. states. Arizona, California, Florida, Georgia and Texas became especially important markets. The company also developed non-store distribution through its website and special-order channels, offering more than 30,000 items across its broader assortment. It employs a substantial seasonal workforce because pool-care demand rises during the summer. Michael Egeck became chief executive in February 2020. In October of that year, Leslie's filed for another IPO and subsequently announced the November 2 closing of an offering of 46 million common shares. In September 2024, Egeck resigned and Jason McDonell became chief executive while joining the board. The company continues to operate as a specialized pool, spa and backyard retailer rather than as a general department store.
- 2024
Chief executive transition
[1]Jason McDonell replaced Michael Egeck as chief executive and joined the board.
- 2020
Return to the public market
[1]Leslie's filed for an IPO in October and announced the closing of an offering of 46 million common shares on November 2.
- 2017
Acquired by L Catterton
[1]Leslie's Poolmart was acquired by consumer-focused private-equity firm L Catterton.
- 1997
Taken private by Hancock and Leonard Green
[1]Hancock took Leslie's private in a transaction valued at $140 million, assisted by Leonard Green & Partners.
- 1992
Acquisition of Sandy's Pool Supply
[1]Leslie's added 23 stores through the acquisition of Sandy's Pool Supply.
- 1991
Initial public offering
[1]The company completed an IPO that raised $28 million through the sale of 47 percent of the company, supporting debt repayment and expansion.
- 1988
Court-ordered sale to Hancock Park Associates
[1]A California superior court ordered the company sold after a dispute between the founding partners; Hancock Park Associates acquired it for $23 million.
- 1963
Company founded in North Hollywood
[1]Phil Leslie, Jr. and Raymond Cesmat opened the first Leslie's swimming-pool supply store in North Hollywood, Los Angeles.
Products and positioning
A large, specialized U.S. pool-and-spa supply retailer combining a broad maintenance assortment with physical-store convenience, online and special-order access, and product support for recurring pool-care needs.
Pool maintenance
Pool chemicals and water treatment
Leslie's core assortment includes chemicals and related water-treatment products used to maintain pool sanitation, water balance and clarity. These products support the retailer's recurring-purchase model and are sold through stores and other distribution channels.
Pool maintenance
Pool cleaning equipment
The company sells cleaning devices and associated maintenance equipment for routine pool care. The category complements chemical products by addressing debris removal and general upkeep.
Pool equipment
Pumps, filters and replacement parts
Leslie's supplies equipment and replacement components, including pumps, filters and other parts used to maintain or repair pool systems. This technical assortment helps the retailer serve owners seeking both routine supplies and system replacements.
Pool accessories
Pool recreation and safety products
The recreational and safety range includes pool toys, accessories and products intended to support safer and more enjoyable pool use.
Spa maintenance
Hot-tub and spa supplies
Leslie's extends its maintenance assortment beyond swimming pools to hot tubs and spas, offering products for upkeep of these related water-recreation systems.
Outdoor living
Patio and backyard products
The company also sells patio and backyard furniture and accessories, broadening its offer into outdoor-living products associated with pool ownership and residential recreation.
Private label
Leslie's private-label pool products
Leslie's sells products under its own brand in the pool-supply category. The reference material states that private-label products represented a large portion of total sales in 2009, although a current share is not provided.
Brand decisions
2020
Return to public markets through a second IPOOtherBackground
After years of private ownership, Leslie's pursued a new public offering while expanding its store and distribution footprint.
Action taken
The company filed for an IPO in October and announced the closing of an offering of 46 million common shares on November 2.
Aftermath
Leslie's resumed life as a publicly traded company.
2017
Acquire Leslie's PoolmartM&ABackground
Leslie's continued operating as a large specialized pool-supply retailer under private-equity ownership.
Action taken
L Catterton acquired Leslie's Poolmart.
Aftermath
The transaction placed the retailer under L Catterton ownership before its subsequent return to public markets.
1997
Return to private ownershipM&ABackground
Following the company's public-market period and continued store expansion, Hancock pursued a new ownership structure.
Action taken
Hancock took Leslie's private with assistance from Leonard Green & Partners.
Aftermath
The transaction ended the company's earlier public-market period and began another phase of private-equity ownership.
Take-private transaction value. $140 million (1997)
1991
Use public-offering proceeds to fund expansionStrategyBackground
After returning to profitability in the early 1990s, Leslie's sought capital to reduce leverage and expand its store network.
Action taken
The company sold 47 percent of its equity in an IPO and directed the proceeds toward debt repayment and expansion.
Aftermath
The retailer expanded from 66 stores at the beginning of 1989 to 259 by the end of 1996.
IPO proceeds. $28 million (1991)
1988
Accept the court-directed sale of the companyM&ABackground
A dispute between Phil Leslie and Raymond Cesmat led to a dissolution action and a California superior court order requiring the corporation to be sold.
Action taken
Hancock Park Associates acquired Leslie's in a hostile, court-ordered transaction for $23 million.
Aftermath
Many store managers initially refused to open in support of Phil Leslie. The new ownership replaced managers who did not resume operations, and the company later returned to profitability.
Acquisition price. $23 million (1988)
Recent events
- 2024
Jason McDonell succeeds Michael Egeck as chief executive[1]
Leadership change
Michael Egeck resigned in September 2024, and Jason McDonell was appointed chief executive and added to the board.
- 2020
Leslie's appoints Michael Egeck as chief executive officer[1]
Leadership change
Michael Egeck assumed the chief executive role in February 2020.
- 2020
Leslie's files for a new initial public offering[1]
Other
The company filed for another IPO in October 2020 as it returned to public ownership.
- 2020
Leslie's closes offering of 46 million common shares[1]
Other
Leslie's announced the closing of an initial public offering involving 46 million common shares on November 2, 2020.
Sources2 sources
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