WATER PIK TECHNOLOGIES INC

WATER PIK TECHNOLOGIES INC

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Company Overview
Waterpik Technologies, Inc. is a leading developer, manufacturer and marketer of innovative personal health care products, pool products and water-heating systems sold under the Waterpikr, Jandyr and Laarsr brand names. The company was founded in 1962. Its headquarters is located in Newport Beach, California.
The company operates in two business segments. The first segment is the pool products segment, a leading developer, manufacturer and marketer of swimming pool and spa heaters, heat pumps, electronic controls, chlorine generators, valves, pumps, filters, automatic pool cleaners/cleaning accessories and water features. The Jandyr brand of pool and spa products are sold to distributors, pool builders, dealers, and specialty pool retailers. Its range of products includes pumps, filters, heaters, heat pumps, controls, chlorine generators, water leveling, valves, water features, cleaners, and lights.
The second business segment is the personal health care segment, a leading developer, manufacturer and marketer of revolutionary health care products for the entire family. The company has developed and introduced many products that are considered the first of their kind and have led to the formation of new markets, including the automatic toothbrush, end-of-faucet water filtration system, pool heater and pulsating shower massage. The company’s products are sold through a variety of channels, including home centers, mass-merchandisers, drug chains and specialty retailers, wholesalers and contractors. The company operates ten major facilities in the United States and Canada.
Business Summary
Water Pik Technologies, Inc. (Water Pik Technologies) is engaged in the designing, manufacturing and marketing a range of swimming pool and personal healthcare products. The Company operates in two segments: the Pool Products segment and the Personal Health Care segment. The Pool Products segment designs, manufactures and markets swimming pool and spa heaters, heat pumps, electronic controls, valves, pumps, filters, automatic salt chlorine generators, titanium heat exchangers, water features and accessories. The Personal Health Care segment designs, manufactures and markets personal healthcare products, including showerheads, consumer and professional oral health products and water filtration products. In January 2004, the Company acquired substantially all of the assets of Huron Tech Systems, a division of Finnchem USA, Inc. On June 30, 2005, Water Pik Technologies sold substantially all of the assets and liabilities of its Laars Heating Systems segment to Bradford White Corporation.
Description and history
Water Pik Technologies, Inc. (Water Pik Technologies), incorporated on August 23, 1999, is engaged in the designing, manufacturing and marketing a range of swimming pool and personal healthcare products. The Company operates in two business segments: the Pool Products segment and the Personal Health Care segment. The Pool Products segment designs, manufactures and markets swimming pool and spa heaters, heat pumps, electronic controls, valves, pumps, filters, automatic salt chlorine generators, titanium heat exchangers, water features and accessories. The Personal Health Care segment designs, manufactures and markets personal healthcare products, including showerheads, consumer and professional oral health products and water filtration products. In January 2004, the Company acquired substantially all of the assets of Huron Tech Systems, a division of Finnchem USA, Inc. Huron Tech Systems manufactures automatic salt chlorine generators used for swimming pool and spa water sanitation and titanium heat exchangers, a component used in heat pumps. On June 30, 2005, Water Pik Technologies sold substantially all of the assets and liabilities of its Laars Heating Systems business (Heating Systems), a component of its former Pool Products and Heating Systems segment, to Bradford White Corporation (BWC). The Laars brand was included in the sale.

Pool Products

Water Pik Technologies designs, manufactures and markets swimming pool and spa equipment, which is sold primarily under the Jandy brand name. The Company’s pool and spa products include a range of swimming pool and spa heaters; swimming pool and spa heat pumps; technologically advanced electronic controls to automate all functions of swimming pools, spas and water effects; automatic pool cleaners; a of swimming pool and spa plumbing products, such as three-way diverter valves, check valves, ball valves, backwash valves and valve actuators; multi-color pool and spa lights; automatic salt chlorine generators; a line of water features, such as waterfalls, rock falls, fountains, laminar flow jets, deck jets and decorative pool accents; a line of swimming pool pumps and filters, and pool and spa accessories, including cleaning and maintenance supplies, white goods, ladders, solar reels, floating lounges, pool toys and games.

Water Pik Technologies is a manufacturer and marketer of swimming pool and spa heaters, including natural gas, propane- and oil-fired residential pool heaters. It manufactures both standard-efficiency and high-efficiency heaters. In addition, the Company manufactures valves and valve actuators, which automate pool and spa plumbing to switch water circulation between pool and spa, control spa overflow, drain water and control fountains, waterfalls, pumps, filters and other water features. Jandy valves and valve actuators also are used by original equipment manufacturers for many automation applications.

Water Pik Technologies offers a line of water features to enhance pool construction, which produce a range of water effects, including the Sheer Descent, Sheer Arc, Sheer Curtain and Sheer Rain waterfalls; and the Aqua Accents. The Company’s products under the water-heating systems category include Mighty Therm series of commercial boilers and water heaters, which are natural draft appliances for propane or natural gas fuels; Mighty Max series of commercial boilers and water heaters, which are high-efficiency fan assisted sealed combustion appliances for propane or natural gas fuels; Mini-Therm induced draft series of residential boilers; Mini-Combo atmospheric and induced draft combination hydronic boiler and domestic water heater; Mighty Stack atmospheric and automatic circulating water heater; Newport high-efficiency residential oil boiler; MAX high-efficiency residential oil boiler; Laars Rheos high-efficiency modulating commercial boiler, and Laars Pennant high-efficiency, stage-fired commercial boiler.

The Company competes with Pentair, Inc., Rheem Manufacturing Company and Hayward Industries, Inc.

Personal Health Care

The Personal Health Care segment designs, manufactures and markets showerheads, consumer and professional oral health care products, water filtration products and personal stress relief products, which are sold primarily under the Water Pik brand name. Water Pik Technologies has developed The Original Shower Massage product line, a massaging showerhead. The Flexible Shower Massage, a showerhead that adjusts to a variety of positions and height settings, was based on The Original Shower Massage. In June and September 2004, the Company launched Elements and Dual Massage, respectively, which are performance showerheads. In July 2005, Water Pik Technologies introduced a hand-held, value positioned line extension to the Cascadia family of products. In September 2005, the Company launched the AquaScape Spa shower, which combines drenching rain and pulsating massage.

Water Pik Technologies manufacture a line of consumer and professional oral health care products, including the original Water Pik Dental Water Jet (Oral Irrigator). Other product lines in the Company’s consumer oral care portfolio include sonic power toothbrushes and power flossers. As of September 30, 2005, Water Pik Technologies marketed over 600 products that were distributed in over 60 countries for use by dental professionals. The Company’s professional oral health care products include articulators, which are instruments used to replicate jaw movements for fabrication of dental prosthetics; prophy cups and angles, which are used in conjunction with a polishing compound to polish teeth; radiographic positioning devices, which are used to position x-ray equipment, and various laboratory products used by dental labs to fabricate dental prosthetics.

The Company manufactures and markets a line of end-of-faucet water filtration products for consumers. In May 2004, it launched the Instapure water filter, an end-of-faucet filter that reduces 53 contaminants, as well as chlorine taste and odor. The Personal Stress Relief product line includes foot spas and personal massagers. In July 2004, Water Pik Technologies began to pursue an orderly exit of personal stress relief products within its Personal Health Care segment.

Water Pik Technologies competes with Procter & Gamble Co., The Clorox Company, Colgate-Palmolive Company, Salton, Inc., Masco Corporation, Fortune Brands, Inc., Homedics and Conair Corporation.

Business Line
Developer, manufacturer and marketer of innovative personal health care products, pool products and water-heating systems
Subsidiary
WATER PIK TECHNOLOGIES CANADA INC
Advisor
ERNST & YOUNG LLP
IPO date
11/1999
US SIC Code
3639
Company Address
Suite 246
23, Corporate Plaza
City province or state postal code
92660, NEWPORT BEACH, CA
Phone: +1 949 719 3700
Fax: +1 949 719 6472
Country address: UNITED STATES OF AMERICA
Website url: www.waterpik.com