When the pandemic shut down most travel plans, Americans put money into their homes. Spending on "staycation" projects included new investments in decks, spas and pools.
Now the staycation industry is prompting business deals. Spain's Fluidra SA has inked a deal to buy Custom Molded Products (CMP) of Newnan, Ga., for $245 million to jump-start its business in spa components.
CMP makes a lot of components used in pools and spas, such as lighting, jets and skimmers, using both plastics and metal. It's expecting sales to soar 12-15 percent in 2021.