SCP Pool Hits Acquisition Trail

The company buys Automatic Rain, a seller of irrigation and landscape products.
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SCP Pool

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, a distributor of swimming pool supplies, agreed to buy Automatic Rain, a seller of irrigation and landscape products.

Terms of the transaction weren't disclosed. Automatic Rain, which does business as Horizon, has 40 distribution locations in eight western and southwestern states.

The company's net sales are estimated to be around $175 million for fiscal 2005. SCP had sales of roughly $1.3 billion in 2004.

SCP Pool, based in Covington, La., said the transaction diversifies its offerings.

"Horizon is a natural addition to our business, as irrigation and landscaping is often a key component to completing a swimming pool installation or remodeling," the company said in a press release.

The purchase should add 5 cents a share to SCP's fiscal 2006 earnings. SCP said it expects to close the transaction by October.

Shares of SCP were gaining 57 cents, or 1.7%, to $35.07.