Pamplona Capital Management LLC, through its Pamplona Capital Partners V LP fund, bought a controlling stake in Latham Pool Products Inc. in a deal that values the target company at $375 million.

The seller, middle-market investor Wynnchurch Capital LLC, will stay as a significant investor in the pool components and accessories manufacturer.

Latham CEO Scott Rajeski and the existing management team will continue to run the company.

Goodwin Procter LLP was legal counsel to Pamplona, while Nomura and Cowen were its financial advisers. Foley & Lardner LLP served as legal adviser to Wynnchurch and William Blair and Moelis were its financial advisers.