Carlile Swimming sold to ASX-listed investment house Washington H. Soul Pattinson

Sydney-based swim school operator Carlile Swimming is reported to have been sold to ASX-listed Washington H. Soul Pattinson and Company Limited (WHSP) for a sum believed to be in the region of $100 million.

Founded by the late Olympic swimming coach Forbes Carlile, who taught swimming for 75 years, Carlile Swimming operates nine locations across Sydney.

According to the Australian Financial Review (AFR), the sale to WHSP will include an earn-out of about $40 million and will see Carlile Swimming “bolted onto” WHSP’s Aquatic Achievers brand which operates 11 purpose-built swim schools across NSW, ACT, Queensland and Victoria.

The AFR quoted a source that suggested the acquisition will consolidate a sector described as a “fragmented cottage industry”.

The report suggested what WHSP will maintain the respective brands on a stand-alone basis but seek to add “institutional quality” to the sector via better systems and scale.

WHSP is a significant investment house with a portfolio encompassing many industries.

Often described as the "father of modern Australian swimming" who laid the foundations for the success of Australia’s Olympic swimming team using scientific methods, Forbes Carlile died in 2016 at the age of 95.

With his wife Ursula, he opened Sydney's first indoor learn to swim school in the 1950s and pioneered baby swimming lessons in Australia.

Image courtesy of Carlile Swimming.