When Mike and Kelley Church purchased Cody Pools in 2003, they were looking for a company with name recognition and growth potential. Under their leadership, the company has grown to become one of the top 50 in-ground swimming pool contractors in the United States, according to Pool and Spa News (August 21, 2006). The company currently employs 34 people and operates out of three locations, in Austin off Parmer Lane, in Georgetown on IH-35 and in Bee Cave near the intersection of Hwy 71 and Bee Cave Road.

Mike and Kelley have ambitions for additional growth of the company. These plans include opening new locations north towards Waco and south towards San Antonio. With the tremendous growth that the IH-35 corridor is experiencing, they want to move as quickly as possible. In order to do so, they needed additional resources and thought that a strategic arrangement with someone with the proper resources would help the company.

Corporate Investment was retained by Cody Pools to help it evaluate its various options and to manage the process of finding the best financial partner for the company. After a national search, Cody Pools entered into an agreement in May, 2007, with Prospect Partners, a Chicago-based private equity firm with over $270 million under management, which focuses on the lower middle market.

Mike and Kelley are delighted with the new arrangement with Prospect Partners. Mike says, “We have already begun working closely together to pursue growth opportunities.”

Regarding their relationship with Corporate Investment, Mike and Kelley said, “From the time you spent on researching the future housing market, to the constant recasting and forecasting of financials, your firm was always on top of what needed to be done. We could not have possibly had the time to do these ourselves. Your efforts allowed us to continue to run our business on a daily basis. We were glad to have you on our side, especially in the last month of negotiating.”