INVESTOR PROFILE: Aladdin Equipment Co.
Aladdin Equipment Co. performs swimmingly in global market for pool parts
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As warmer weather inches north in the United States and across Europe, hundreds of thousands of swimming pools need new filters, o-rings and filter baskets. That demand is helping to keep Aladdin Equipment Co. Inc. in Sarasota – and its 56 employees – busy with work, even during an economic downturn.
“We’re not making huge increases, but we are ahead of last year,” said Lindy Smith, CEO and owner of the 58-year-old manufacturing company, which makes replacement parts for pools and spas. “Since we’re in the replacement part business, we are relatively insulated from recessions. People tend to repair their backyard swimming pools, rather than going on vacations.”
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“We are absolutely seeing a return on our EDC investment by learning about ways to save money and grow our business."--Lindy Smith |
Contributing to Aladdin’s cushion from the economic slump is the favorable exchange rate for the company’s European clients. Parts distributors in Belgium, France and Spain are attracted to U.S. goods because of the strong euro, Smith said. “We might have 26 shipping containers in our yard to fill just one order for a client in Europe,” she said.
Aladdin moved to Sarasota County 19 years ago, and credits the EDC and its predecessor organization for helping the company locate and expand here. “We are absolutely seeing a return on our EDC investment by learning about ways to save money and grow our business,” she said. Through the SMART program administered by the EDC, Smith expedited her company’s facility expansion, and she has gained access to grants for training employees.
“If you have a problem, the EDC may not have the answer, but they will get it,” she said. “To compete in a global market and grow a successful business, it makes sense to use all the help you can get.”
