Category: Lifestyle

Exclusive agreement adds considerable value and convenience for Plungie pool owners

BERKELEY HEIGHTS, N.J. — (BUSINESS WIRE) — Hayward Holdings, Inc. (NYSE: HAYW) (“Hayward”), a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems, today announced an agreement with Plungie, an Australia-based fabricator of monolithic concrete pools, to outfit all future installations in North America exclusively with Hayward pool equipment.

Equipment emphasized within the exclusive deal includes Hayward’s industry-leading line of ultra-high efficiency pumps, the top-ranked Omni automation platform and app, and AquaRite S3 salt chlorinators that require 1/3 the salt of leading competitors. The partnership will bring greater convenience and cost savings to consumers, particularly those looking to install smaller backyard pools.

Founded in 2018, Plungie’s impressive revenue growth has propelled the company far beyond its Brisbane headquarters as an international player in the creation of precast concrete “plunge” pools up to 5,400 gallons. To better serve the growing demand within the North American market, the Australian pool fabricator recently opened an ISO-accredited manufacturing facility in Dallas, Texas. Two additional facilities are expected to open across the U.S. in 2022.

“As we expand into new areas, choosing Hayward as a partner was a no-brainer for us,” said Chris Macaulay, General Manager, Plungie, North America. “Our company is guided by the firm belief that everyone deserves the joy of an eco-friendly pool in their backyard. Hayward offers the scalable, energy-efficient equipment to make that a reality.”

Macaulay also stressed the importance of Plungie’s “advanced design, engineering and manufacturing” which allows them to design, fabricate and deliver concrete pools with unprecedented value and speed, allowing customers to get their plunge pool installed within days.

“We’re very excited to begin this new adventure with Plungie,” commented Albert Miller, Vice President of Sales, Hayward. “Plungie delivers the same ease and convenience for the pool that Hayward delivers for the pad, and I really believe the partnership will allow us to accelerate growth for our respective businesses to meet the increasing demand from our trade professionals and the end consumer.”

Matt Kimball, Hayward’s Vice President of Product Management & Marketing, shared a similar optimism about the partnership. “All of us at Hayward are singularly focused on building better, and the passionate people at Plungie definitely share in that spirit. They talk a lot about revolutionizing their industry and providing better options for prospective pool owners, and that’s exactly the kind of big-picture goal that gets us excited around here.”

For more information about Plungie products and pricing, please visit us.plungie.com.

Image and video resources:

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About Hayward Holdings, Inc.

Hayward Holdings, Inc. (NYSE:HAYW) is a leading global designer and manufacturer of pool equipment and technology all key to the SmartPad™ conversion strategy designed to provide a superior outdoor living experience. Hayward offers a full line of innovative, energy-efficient and sustainable residential and commercial pool equipment, including a complete line of advanced pumps, filters, heaters, automatic pool cleaners, LED lighting, internet of things (IoT) enabled controls, alternate sanitizers and water features.

Contacts

Media Relations:

Tanya McNabb

tmcnabb@hayward.com

Investor relations:

Hayward Investor Relations

908.288.9706

investor.relations@hayward.com

The nation’s serious delinquency rate declined to lowest level since May 2020 spike

IRVINE, Calif. — (BUSINESS WIRE) — CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for September 2021.

For the month of September, 3.9% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 2.4-percentage point decrease compared to September 2020, when it was 6.3%. Comparatively, the overall delinquency rate in September 2019 was 3.8%.

To gain a complete view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency. In September 2021, the U.S. delinquency and transition rates, and their year-over-year changes, were as follows:

• Early-Stage Delinquencies (30 to 59 days past due): 1.1%, down from 1.5% in September 2020.
• Adverse Delinquency (60 to 89 days past due): 0.3%, down from 0.7% in September 2020.
• Serious Delinquency (90 days or more past due, including loans in foreclosure): 2.4%, down from 4.2% in September 2020.
• Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.2%, down from 0.3% in September 2020. This remains the lowest foreclosure rate recorded since 1999.
• Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.6%, down from 0.8% in September 2020.

Mortgage delinquency continued to decline in September, while home equity has soared, according to CoreLogic’s most recent Home Equity Report. Despite nearly one-in-two delinquent borrowers being behind on their mortgages by six months or more, high levels of equity assure that relatively few of these borrowers will fall into foreclosure as they exit forbearance. Additionally, the U.S. unemployment rate has continued to fall over the course of the year and in November 2021 was 4.2%, 10.6 percentage points lower than the rate in April 2020. Employment and income growth provide the means for borrowers to remain current on their mortgages.

“Record home equity levels have been a boon to many homeowners navigating the cross currents of the pandemic,” said Frank Martell, president and CEO of CoreLogic. “Not only have homeowners used this equity to fuel a record level of home improvements and renovation, it has proven to be a vital factor in helping families ward off foreclosure, pay down existing debt and weather changing market conditions.”

“The economic recovery has pushed down the percent of delinquent borrowers to the lowest level since the pandemic began,” said Dr. Frank Nothaft, chief economist at CoreLogic. “The number of borrowers past due on their mortgage doubled between March and May 2020. The past due rate in September 2021 was the lowest since March 2020.”

State and Metro Takeaways:

• In September 2021, all states logged year-over-year declines in overall delinquency rate. The states with the largest declines were Nevada (down 3.7 percentage points); Florida (down 3.6 percentage points); and New Jersey (down 3.6 percentage points).
• Two metro areas posted annual increases in overall delinquency in September 2021—Houma-Thibodaux, Louisiana (up 3.3 percentage points) and Hammond, Louisiana (up 0.3 percentage points). All other metros saw annual decreases, with Lake Charles, LA posting the largest decrease at 9.3 percentage points.

The next CoreLogic Loan Performance Insights Report will be released on January 11, 2022, featuring data for October 2021. For ongoing housing trends and data, visit the CoreLogic Intelligence Blog: www.corelogic.com/intelligence.

Methodology

The data in The CoreLogic LPI report represents foreclosure and delinquency activity reported through September 2021. The data in this report accounts for only first liens against a property and does not include secondary liens. The delinquency, transition and foreclosure rates are measured only against homes that have an outstanding mortgage. Homes without mortgage liens are not subject to foreclosure and are, therefore, excluded from the analysis. CoreLogic has approximately 75% coverage of U.S. foreclosure data.

Source: CoreLogic

The data provided is for use only by the primary recipient or the primary recipient’s publication or broadcast. This data may not be re-sold, republished or licensed to any other source, including publications and sources owned by the primary recipient’s parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Robin Wachner at newsmedia@corelogic.com. Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. This data is compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.

About CoreLogic

CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.

Contacts

Robin Wachner

CoreLogic

newsmedia@corelogic.com

RED BANK, N.J. — (BUSINESS WIRE) — WBI Investments today announced a strategic partnership with FLX Distribution. FLX offers the first Resource and Asset Management Platform (RAMP) bringing together asset managers, distribution professionals, wealth managers, and advisors to bring efficient distribution of its flagship investment models to investors.

“This is an exciting opportunity for WBI/Cy to exponentially scale up sales and distribution,” says Matt Schreiber, Co-Chief Executive Officer of WBI Investments. “We look to leverage the strategic focus of FLX Distribution to enhance the advisor and investor experience while WBI remains determined to provide innovative investment solutions.”

About WBI

Founded in 1984, WBI is a trailblazer of technology-driven, goals-based wealth management solutions. The firm is a pioneer of active cash-hedged separately managed account and ETF strategies. Cy, WBI’s award-winning digital wealth management platform, combines financial planning concepts and distinguished innovations to portfolio optimization and construction. WBI is a leader in providing client solutions tailored to their personal benchmarks for loss and return. For more information, visit wbiinvestments.com.

About FLX Distribution

Launched in December 2019, FLX Distribution is revolutionizing the distribution experience among asset managers, wealth managers, and advisors. We provide a technology platform — known as a Resource and Asset Management Platform (RAMP) — that delivers unmatched scale, flexibility, and access to a modular and on-demand experience.

The FLX Distribution technology platform simultaneously empowers asset managers and distribution professionals to drive results and retain optionality. Powered by a combination of proprietary tech developments, and a stack of leading software providers, we have created a seamless exchange providing access to media resources, distribution solutions, corporate strategy, and business services.

^*Consideration for these awards is no guarantee of future performance. CyborgTech LLC did not pay a fee but did submit applications for consideration. For more information on the award categories and criteria, visit FinTech Breakthrough and Wealth Management.

IMPORTANT INFORMATION

Moreover, you should not assume that any discussion or information provided here serves as the receipt of, or as a substitute for, personalized investment advice from WBI Investments or from any other investment professional. To the extent that you have any questions regarding the applicability of any specific issue discussed to your individual situation, you are encouraged to consult with WBI Investments or the professional advisor of your choosing. WBI’s current disclosure statement as set forth on Form ADV Part 2 is available for your review upon request.

WBI is an investment adviser in New Jersey. WBI is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. WBI only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of WBI’s current written disclosure brochure filed with the SEC which discusses among other things, WBI’s business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov.

Contacts

Media
Matt Schreiber

CyborgTech, LLC

800-772-5810

Acquisition to expand Ryder’s e-fulfillment network; add proven technology and operating platform, in strategic move to advance capabilities in high-growth e-commerce and omnichannel segments

MIAMI — (BUSINESS WIRE) — Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces it has entered into a definitive agreement to acquire Whiplash, a leading national provider of omnichannel fulfillment and logistics services, for approximately $480 million in cash. Based in City of Industry, Calif., Whiplash provides scalable e-commerce and omnichannel fulfillment solutions to an impressive roster of more than 250 brands. The company’s 19 dedicated and multi-client warehouses total nearly seven million square feet and provide access to key port operations and gateway markets.

The transaction is accretive to shareholders and is expected to add approximately $480 million in gross revenue to Ryder’s supply chain solutions business segment in 2022 and provide incremental growth to Ryder’s earnings in 2022. Ryder and Whiplash expect to complete the transaction in late December 2021 or early January 2022, subject to satisfaction of antitrust approvals and customary closing conditions.

“The acquisition of Whiplash is consistent with our strategy to accelerate growth in our higher-return supply chain business. It also expands our e-commerce and omnichannel fulfillment network and reflects our continued focus on technology and innovation,” says Robert Sanchez, chairman and chief executive officer for Ryder. “Whiplash’s best-in-class e-commerce platform and key geographic strongholds—coupled with Ryder’s industry-leading transportation logistics solutions, including our robust Ryder Last Mile delivery network for big-and-bulky goods—positions us to deliver incredible value for our customers who are looking for more advanced e-fulfillment solutions in today’s ever-changing landscape.”

Ryder expects to integrate Whiplash’s facilities, operations, technology, and warehouse automation and robotics into its e-commerce fulfillment solution within the supply chain solutions business unit. Additionally, Ryder plans to retain Whiplash’s executive team and workforce, with their proven operational expertise, to execute the growth and customer solutions in this segment.

“With e-commerce sales continuing to hit record levels and omnichannel retailing becoming mainstream, we’re seeing a significant uptick in brands looking for more dynamic fulfillment services,” says Steve Sensing, president of global supply chain solutions for Ryder. “Whiplash has built a proven model that meets today’s consumers where, when, and how they choose to engage with brands—whether that’s on-line from a mobile device or laptop, in-store, or a combination. We expect that our combined customers will benefit from that additional flexibility as well as Ryder’s vast nationwide network, extensive technology suite, best-in-class warehouse management practices, and end-to-end transportation logistics solutions.”

The acquisition will add to Ryder’s current e-commerce fulfillment network with new facilities in Chino, Calif; City of Industry, Calif.; Long Beach, Calif.; Jacksonville, Fla.; Savannah, Ga.; Newark, N.J.; Secaucus, N.J.; Clifton, N.J.; Columbus, Ohio; Salt Lake City, Utah; and Sumner, Wash. Additionally, the acquisition strengthens Ryder’s presence in key port operations, providing four-corner coverage of all major U.S. inbound gateways via Seattle/Tacoma, New York/New Jersey, Savannah, and Long Beach.

With the expanded footprint following the acquisition, Ryder’s e-commerce and omnichannel fulfillment solution is expected to be able to deliver to 100% of the U.S. within two days and 60% of the U.S. within one day.

“This announcement signals a new accelerated phase of growth for Whiplash that will benefit our current customers and dramatically enhance our ability to scale and deliver innovation for digitally-native brands and omnichannel retailers,” says Jeff Wolpov, chief executive officer of Whiplash. “Ryder’s supply chain expertise, facility network, and last-mile transportation solutions are a perfect complement to the Whiplash e-commerce platform, and we’re excited to be part of the Ryder team.”

Wofford Advisors LLC acted as lead strategic advisor to Ryder and Blank Rome LLP acted as legal counsel on the transaction. J.P. Morgan Securities LLC acted as exclusive financial advisor and Paul Hastings LLP served as legal counsel to Whiplash.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages nearly 235,000 commercial vehicles and operates more than 300 warehouses, encompassing approximately 64 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

About Whiplash

PLG Investments I, LLC, d/b/a Whiplash, is a leading provider of direct-to-consumer fulfillment and retail logistics, including end-to-end customer care, transportation, distribution, and value-added warehouse services. Its high-performance operations are supported by its namesake ecommerce platform and a suite of advanced technology solutions, enabling the multi-channel connectivity required by the retail supply chains of today and tomorrow. Operating 19 distribution centers nationwide across nearly seven million square feet of space in addition to its international partner network, Whiplash brings emerging and established brands the scale and vision they need to grow and succeed.

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations regarding the benefits and timing of the transaction (including future revenue and earnings growth as a result of the transaction), are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this news release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, (ii) the effect of the announcement or pendency of the transaction on Whiplash’s business relationships, operating results, and business generally, (iii) risks that the merger disrupts current plans and operations of Whiplash and potential difficulties in Whiplash employee retention as a result of the Merger, (iv) changes in general economic conditions, including as a result of the COVID-19 pandemic, (v) the risk that the merger will not add the forecasted revenue to Ryder’s supply chain solutions business segment; (vi) the risk that the merger will not provide the expected incremental growth to Ryder’s earnings in 2022; (vii) the ability to implement business plans, forecasts and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

ryder-scs

ryder-usa

Contacts

Amy Federman

Ryder, Media Relations

afederman@ryder.com

Bob Brunn

Ryder, Investor Relations

bob_s_brunn@ryder.com

Rich Reba

Whiplash

rich.reba@whiplash.com

Kevin Chavers and Francis Byrne Bring Decades of Mortgage Industry Experience to the Company as it Continues Strong Growth and Plans for Next Securitization

SUMMIT, N.J. — (BUSINESS WIRE) — Toorak Capital Partners, Inc. (“Toorak”), a leading capital provider to real estate lenders, today announced the appointment of Kevin Chavers and Francis Byrne to the company’s Board of Directors.

“I am thrilled to welcome such experienced mortgage finance executives to the Toorak team as we continue our remarkable growth and look ahead to 2022,” said Toorak CEO John Beacham. “Kevin and Francis bring decades of industry experience, and I am certain Toorak will significantly benefit from their leadership and guidance.”

Mr. Chavers previously spent ten years as Managing Director at BlackRock, serving on the Global Fixed Income Securitized Asset Investment Team, where he assisted in the development and launch of its residential mortgage whole loan investing platform. He was also a Co Leader of the BlackRock Impact Opportunity fund, and member of both the Global Public Policy Group and the Financial Markets Advisory Group. Prior to his tenure at BlackRock, Mr. Chavers was a Managing Director at Morgan Stanley in the Securitized Products Group. He also formerly served as the President of Ginnie Mae in the Clinton Administration. He currently serves as Chairman of the Bedford Stuyvesant Restoration Corporation and on the boards of directors of Enterprise Community Partners, the Upper Manhattan Empowerment Zone, the University of Virginia Foundation, and the Penn Institute for Urban Research. He is a former Partnership for New York City David Rockefeller Fellow. Mr. Chavers received his J.D. from Harvard Law School and received his B.A. in City Planning from the University of Virginia School of Architecture.

“I am excited to join the team at Toorak during such a tremendous growth period for the company,” said Mr. Chavers. “I look forward to advising the company as it helps to solve the current housing shortage through strategic deployment of capital.”

Mr. Byrne is currently a Managing Partner at Fifth Light Capital, LLC, where he provides advisory services to early stage and financial services companies. Prior to his tenure at Fifth Light Capital, he served as Managing Director and Head of Securitization at UBS Securities, LLC, where he led the effort to rebuild the ABS, RMBS and CLO businesses in the U.S. Prior to UBS, Mr. Byrne spent nine years at Deutsche Bank, ultimately rising to Co-Head of the Global Securitized Products Group. He also worked for Credit Suisse for 13 years in various banking, management, and risk management capacities. Mr. Byrne received his MBA from New York University’s Leonard N. Stern School of Business and his B.S. in Finance from Fordham University.

“I look forward to joining the team at Toorak Capital Partners,” said Mr. Byrne. “The team has built an excellent reputation among investors and each of its securitizations has been oversubscribed. I look forward to building upon this legacy and contributing to Toorak’s continued success.”

With capital commitments from entities managed by KKR, a leading global investment firm, Toorak Capital Partners has revolutionized the way business purpose residential real estate lenders access capital. The firm was the first to link small-balance commercial and residential originators with institutional capital and has perfected this approach in the single-family residential bridge and 30-year single family rental lending space.

To learn more about Toorak Capital Partners’ correspondent lending platform, please contact the firm at toorakcapital@toorakcapital.com or 212-393-4100.

About Toorak Capital Partners

Toorak Capital Partners is an integrated correspondent lending platform based in Summit, NJ. Toorak acquires small balance business purpose loans backed by residential, multifamily, and mixed-use properties throughout the U.S. and the U.K. Toorak acquires loans directly from lenders that originate high credit quality loans. Toorak’s principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Toorak-funded projects have renovated, stabilized or provided rental housing for more than 20,000 families to date – an average of more than 500 families every month.

Further information is available at www.toorakcapital.com.

Contacts

Alex Varney

avarney@stantonprm.com
(646) 502-3565