Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
- Peter Lynch
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
| Latham Group, Inc. |
| (Name of Issuer) |
| Common Stock, par value $0.0001 per share |
| (Title of Class of Securities) |
| 51819L107 |
| (CUSIP Number) |
| December 31, 2023 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☐ Rule 13d-1(c)
☒ Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 2 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona Capital Partners V, L.P. | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
PN | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 3 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona Equity Advisors V, Ltd. | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
CO | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 4 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona Private Equity Carryco V, L.P. | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
PN | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 5 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona Equity Carryco Advisors V, Ltd. | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
CO | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 6 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona PE Investments II, Ltd. | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
CO | |
See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 7 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona PE Investments Malta Limited | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Malta | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
CO | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 8 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona Capital Management LLP | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
United Kingdom | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
PN | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 9 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona Capital Management LLC | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
OO | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 10 of 15 |
| 1 | NAME OF REPORTING PERSONS
Pamplona Capital Management (PE) SL | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Spain | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
0* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
0* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%* | |
| 12 | TYPE OF REPORTING PERSON
OO | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 11 of 15 |
| 1 | NAME OF REPORTING PERSONS
John C. Halsted | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
IN | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 12 of 15 |
| 1 | NAME OF REPORTING PERSONS
Alexander M. Knaster | |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
||
| 2 | (a) ☐ (b) ☒ | |
| 3 | SEC USE ONLY
| |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
United Kingdom | |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 |
| 6 | SHARED VOTING POWER
51,845,685* | |
| 7 | SOLE DISPOSITIVE POWER
0 | |
| 8 | SHARED DISPOSITIVE POWER
51,845,685* |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,845,685* | |
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
45.2%* | |
| 12 | TYPE OF REPORTING PERSON
IN | |
*See Item 4 for additional information.
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 13 of 15 |
| Item 1. | (a) Name of Issuer |
Latham Group, Inc. (the “Issuer”)
| Item 1. | (b) Address of Issuer’s Principal Executive Offices |
787 Watervliet Shaker Road, Latham, NY 12110
| Item 2. | (a, b, c) Names of Person Filing, Address of Principal Business Office, Citizenship: |
This report on Schedule 13G is being filed by (i) Pamplona Capital Partners V, L.P., a Cayman Islands exempted limited partnership (“PCP V”), (ii) Pamplona Equity Advisors V, Ltd., a Cayman Islands exempted company (“PEA V”), (iii) Pamplona Private Equity Carryco V, L.P., a Cayman Islands exempted limited partnership (“PPEC V”), (iv) Pamplona Equity Carryco Advisors V, Ltd., a Cayman Islands exempted company (“PECA V”), (v) Pamplona PE Investments II, Ltd., a Cayman Islands exempted company (“PPEI”), (vi) Pamplona PE Investments Malta Limited, a Malta limited company (“PE Malta”), (vii) Pamplona Capital Management LLP, a United Kingdom limited liability partnership (“PCM LLP”), (viii) Pamplona Capital Management (PE) SL, a Spanish limited liability company (“PCM SL”) (ix) Pamplona Capital Management LLC, a Delaware limited liability company (“PCM LLC”, and together with PCM LLP, the “Pamplona Manager Entities”), (x) John C. Halsted, a citizen of the United States, and (xi) Alexander M. Knaster, a citizen of the United Kingdom (collectively, the “Reporting Persons”).
The address for the Reporting Persons is: c/o Pamplona Capital Management LLC, 667 Madison Avenue, 22nd Floor, New York, NY 10065.
| Item 2. | (d) Title of Class of Securities |
Common Stock, $0.0001 par value per share (the “Common Stock”)
| Item 2. | (e) CUSIP No.: |
51819L107
| Item 3. | If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person filing is a: |
N/A
| Item 4. | Ownership |
As reported in the cover pages to this report, the ownership information with respect to the Reporting Persons (except PCM SL) is as follows:
(a) Amount Beneficially Owned: 51,845,685*
(b) Percent of Class: 45.2*
(c) Number of Shares as to which such person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 51,845,685*
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 51,845,685*
As reported in the cover pages to this report, the ownership information with respect to PCM SL is as follows:
(a) Amount Beneficially Owned: 0*
(b) Percent of Class: 0.0*
(c) Number of Shares as to which such person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 0*
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 0*
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 14 of 15 |
;
* As of December 31, 2023, PCP V and PPEC V held 38,884,264 and 12,961,421 shares of Common Stock, respectively. PCP V is controlled by PEA V, its general partner. PPEI owns 100% of the shares of PEA V. PE Malta serves as an investment manager to PCP V. The Pamplona Manager Entities serve as investment advisors to PE Malta. Mr. Halsted and Mr. Knaster are the principals of the Pamplona Manager Entities. PPEC V is controlled by PECA V, its general partner. PPEI owns 100% of the shares of PECA V. Mr. Knaster owns 100% of the shares of PPEI. As a result of the foregoing, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Act”), each of PEA V, PPEC V, PECA V, PPEI, PE Malta, the Pamplona Manager Entities, Mr. Halsted and Mr. Knaster may be deemed to beneficially own the 38,884,264 shares of Common Stock held by PCP V and the 12,961,421 shares of Common Stock held by PPEC V.
PCP V entered into a stockholders agreement, dated as April 27, 2021 (the “Stockholders Agreement”), with Wynnchurch Capital Partners IV, L.P., a Cayman Islands limited partnership, and WC Partners Executive IV, L.P. a Cayman Islands limited partnership (collectively, the “Wynnchurch Funds”). Pursuant to the Stockholders Agreement, each of PCP V and the Wynnchurch Funds have agreed, among other things, to vote their shares of Common Stock to elect members of the board of directors of the Issuer as set forth therein.
Because of the relationship between PCP V and the Wynnchurch Funds as a result of the Stockholders Agreement, the Reporting Persons may be deemed, pursuant to Rule 13d-3 under the Act, to constitute a “group” with the Wynnchurch Funds and its control persons. Each Reporting Person disclaims beneficial ownership of the shares of Common Stock beneficially owned by the Wynnchurch Funds. None of the 14,983,771 shares of Common Stock held by Wynnchurch Funds as of December 31, 2023 are reflected in this report.
PCM SL liquidated in June 2023. Therefore, PCM SL no longer serves as an investment advisor to PE Malta and is no longer a beneficial owner of the shares of Common Stock held by PCP V and PPEC V.
Ownership percentages are based on 114,755,945 shares of Common Stock, as reported as issued and outstanding as of November 3, 2023 in the Issuer’s Quarterly Report on Form 10-Q filed on November 7, 2023.
| Item 5. | Ownership of Five Percent or Less of a Class |
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]*
*Represents an exit filing solely with respect to PCM SL.
| Item 6. | Ownership of More Than Five Percent on Behalf of Another Person |
Not Applicable.
| Item 7. | Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person |
Not Applicable.
| Item 8. | Identification and Classification of Members of the Group |
Not Applicable.
| Item 9. | Notice of Dissolution of Group |
Not Applicable.
| Item 10. | Certification |
Not applicable.
Exhibit Index
| CUSIP No. 51819L107 | SCHEDULE 13G | Page 15 of 15 |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: February 14, 2024
| Pamplona Capital Partners V, L.P. | ||
| By: | Pamplona Equity Advisors V. Ltd., its general partner | |
| By: | /s/ Ronan Guilfoyle | |
| Ronan Guilfoyle, Director | ||
| Pamplona Equity Advisors V, Ltd. | ||
| By: | /s/ Ronan Guilfoyle | |
| Ronan Guilfoyle, Director | ||
| Pamplona Private Equity Carryco V, L.P. | ||
| By: | Pamplona Equity Carryco Advisors V, Ltd., its general partner | |
| By: | /s/ Ronan Guilfoyle | |
| Ronan Guilfoyle, Director | ||
| Pamplona Equity Carryco Advisors V, Ltd. | ||
| By: | /s/ Ronan Guilfoyle | |
| Ronan Guilfoyle, Director | ||
| Pamplona PE Investments II, Ltd. | ||
| By: | /s/ Ronan Guilfoyle | |
| Ronan Guilfoyle, Director | ||
| Pamplona PE Investments Malta Limited | ||
| By: | /s/ Stephen Gauci | |
| Stephen Gauci, Director | ||
| Pamplona Capital Management LLP | ||
| By: | /s/ Kevin O’Flaherty | |
| Kevin O’Flaherty, Designated Member | ||
| Pamplona Capital Management LLC | ||
| By: | /s/ Stephen Gauci | |
| Stephen Gauci, Managing Member | ||
| /s/ John C. Halsted | ||
| John C. Halsted | ||
| /s/ Alexander M. Knaster | ||
| Alexander M. Knaster | ||