“Selling the 60-year-old family business to the “Category Killer’”
Senior Vice President Aqua Quip, a Division of Leslie's Poolmart, Inc.
Introduced by: John Martinka
Aqua Quip was founded by Brian’s parents, Richard and Esther Quint, in 1959. He joined the company full time in 1979. His father passed away in 1995 and the business merged with a Tacoma business is 2000. In 2018 they had sales of approx. $22 million with 85 employees.
Brian’s family sold Aqua Quip in January 2019 to the largest retailer and seller of pool and spa products in the industry.- Leslie’s Poolmart, Inc. Brian is in the 3rd year of his 3-year employment agreement. Leslie’s did an IPO in November 2020.
Brian will discuss the following –
- What succession/exit planning he was doing prior to receiving the ‘phone call’ in July 2018.
- Lessons learned about how to be best prepared – when the phone rings – which it did in my case!
- The process – buyer’s due diligence, seller’s due diligence, getting to the LOI and then what it takes to get the deal ‘across the finish line’ from the LOI.
- Going from being self employed with 90 employees to working for a Billion dollar company with nearly 1,000 retail stores.
- The impact of both leadership changes and the recent IPO on running the business.
- Planning for his exit in 01/22 – and how he is ‘obsoleting ‘ himself from day to day operations.
- What’s next?
About the Speaker
Aqua Quip was founded in 1959 by Brian’s parents and he joined the company in 1979. Prior to Aqua Quip, Brian worked at First National Bank of Oregon (now Wells Fargo Bank) for 2 years. Brian is a 1977 graduate of Washington State University in General Business Management and a graduate of Sammamish High School in Bellevue.
Brian is actively involved in a variety of Professional memberships and Associations including: Seattle Executive Association (1981 to present); National Pool and Spa Institute (National Board of Directors 1996-2003 and Chairman National Board 2001); Caroline Kline Galland Home (member of Board of Directors 1998 to present, Board Chairman 2016-18 and currently Chair of Development Committee); Washington State University Foundation (Trustee 2004-2012); Bank of Washington Board of Directors (2013-2018); CEO, Pier Advisory Group – TEC/Visage (1996-20012); Renton Community Foundation Board member (2007-2016); Association of Washington Business Board member (2006-2012); and Seattle University’s Albers School of Business, Family Business Exchange (Advisory Board member 2019-present).
Brian and his wife Nancy have resided in Bellevue for 42 years. They have two grown daughters. Brian enjoys travel, golf, skiing, hiking scuba diving and spending time with his family.