Hayward (HAYW) 10-Q2 Aug 212021 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jul. 03, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 3, 2021
Document Transition Report	false
Entity File Number	001-40208
Entity Registrant Name	Hayward Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2060643
Entity Address, Address Line One	400 Connell Drive
Entity Address, Address Line Two	Suite 6100
Entity Address, City or Town	Berkeley Heights
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07922
City Area Code	908
Local Phone Number	351-5400
Title of 12(b) Security	Common stock, $.001 per share
Trading Symbol	HAYW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		231,101,257
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001834622

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 251.9	$ 114.9
Accounts receivable, net of allowances of $1.5 and $1.4, respectively	176.5	140.2
Inventories, net	171.2	145.3
Prepaid expenses	11.8	10.3
Other current assets	15.6	13.7
Total current assets	627	424.4
Property, plant, and equipment, net of accumulated depreciation of $58.6 and $56.3, respectively	139.3	142.3
Goodwill	920.8	920.3
Trademark	736	736
Customer relationships, net	257.4	271.5
Other intangibles, net	101.1	106.7
Other non-current assets	11.7	5.9
Total assets	2,793.3	2,607.1
Current liabilities
Current portion of the long-term debt	12.1	2.8
Accounts payable	83.9	69.6
Accrued expenses and other liabilities	156.8	141.8
Income taxes payable	10.3	4.4
Total current liabilities	263.1	218.6
Long-term debt, net	978.5	1,300.3
Deferred tax liabilities, net	274.5	273.6
Other non-current liabilities	13.3	10.9
Total liabilities	1,529.4	1,803.4
Commitments and contingencies (Note 12)
Stockholders' equity
Preferred stock, $0.001 par value, 100,000,000 authorized, 0 issued and outstanding at July 3, 2021	0	0
Common stock $0.001 par value, 750,000,000 authorized; 231,120,757 issued and 231,101,257 outstanding at July 3, 2021; 3,846,960 issued and 2,772,900 outstanding at December 31, 2020	0.2	0
Additional paid-in capital	1,054.2	10.3
Common stock in treasury; 4,718,084 and 4,340,310 at July 3, 2021 and December 31, 2020, respectively	(4.7)	(3.7)
Retained earnings	206.8	203
Accumulated other comprehensive income (loss)	7.4	(0.4)
Total stockholders' equity	1,263.9	209.2
Total liabilities, redeemable stock, and stockholders' equity	2,793.3	2,607.1
Common Class A
Current liabilities
Redeemable stock	0	594.5
Common Class C
Current liabilities
Redeemable stock	$ 0	$ 0

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Accounts receivable, allowances	$ 1.5	$ 1.4
Property, plant, and equipment, accumulated depreciation	$ 58.6	$ 56.3
Preferred shares par value (in usd per share)	$ 0.001
Preferred stock authorized (in shares)	100,000,000
Preferred stock issued (in shares)	0
Preferred stock outstanding (in shares)	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	750,000,000	750,000,000
Common stock issued (in shares)	231,120,757	3,846,960
Common stock outstanding (in shares)	231,101,257	2,772,900
Common treasury stock (in shares)	4,718,084	4,340,310
Common Class A
Redeemable stock, par value (in usd per share)	$ 0.001	$ 0.001
Redeemable stock authorized (in shares)	0	1,500,000
Redeemable stock issued (in shares)	0	872,598
Redeemable stock outstanding (in shares)	0	869,823
Common Class C
Redeemable stock, par value (in usd per share)	$ 0.001	$ 0.001
Redeemable stock authorized (in shares)	0	100
Redeemable stock issued (in shares)	0	100
Redeemable stock outstanding (in shares)	0	100

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Income Statement [Abstract]
Net sales	$ 364.4	$ 220	$ 698.8	$ 390.2
Cost of sales	196.4	122.1	370.9	216.8
Gross profit	168	97.9	327.9	173.4
Selling, general, and administrative expenses	71.8	44.2	138.2	87.5
Research, development, and engineering	5	4	9.8	8.8
Acquisition and restructuring related expense	1.6	5.3	1.7	10.7
Amortization of intangible assets	8.6	9.5	17.5	19
Operating income	81	34.9	160.7	47.4
Interest expense, net	13	17.5	31.2	37.1
Loss on debt extinguishment	3.6	0	9.4	0
Other non-operating (income) expense, net	(1)	(6.7)	2.7	(0.4)
Total other expense	15.6	10.8	43.3	36.7
Income from operations before income taxes	65.4	24.1	117.4	10.7
Provision for income taxes	12.6	5.4	27.7	2.4
Net income	52.8	18.7	89.7	8.3
Comprehensive income, net of tax
Net income	52.8	18.7	89.7	8.3
Foreign currency translation adjustments, net of tax expense (benefit) of $0.3 and $0.5, and $0.8 and $(0.6), for the three-month and six-month periods, respectively.	2.2	8.3	4	(2.9)
Change in fair value of derivatives, net of tax expense (benefit) of $0.6 and $1.6, and $1.2 and $(2.2), for the three-month and six-month periods, respectively.	1.9	0.5	3.7	(6.5)
Comprehensive income (loss)	$ 56.9	$ 27.5	$ 97.4	$ (1.1)
Earnings per share
Basic (in usd per share)	$ 0.23	$ 0.11	$ 0.02	$ 0.05
Diluted (in usd per share)	$ 0.22	$ 0.11	$ 0.02	$ 0.05
Weighted average common shares outstanding
Basic (in shares)	231,103,424	1,156,691	143,721,029	1,180,222
Diluted (in shares)	244,203,652	1,552,407	153,571,905	1,821,989

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Income Statement [Abstract]
Foreign currency translation adjustment tax expense (benefit)	$ 0.3	$ 0.5	$ 0.8	$ (0.6)
Change in fair value of derivatives, tax expense (benefit)	$ 0.6	$ 1.6	$ 1.2	$ (2.2)

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes in Redeemable Stock and Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Redeemable Class A and C Stock	Common Class A	Common Class AAdditional Paid-in Capital
Beginning balance (in shares) at Dec. 31, 2019							872,397
Beginning balance at Dec. 31, 2019							$ 869.5
Increase (Decrease) in Temporary Equity [Roll Forward]
Exercise of stock options (in shares)	(423)
Ending balance (in shares) at Mar. 28, 2020							871,974
Ending balance at Mar. 28, 2020							$ 869.5
Beginning balance (in shares) at Dec. 31, 2019		3,114,150
Beginning balance at Dec. 31, 2019	$ 164	$ 0	$ 8	$ (1.2)	$ 159.9	$ (2.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(10.4)				(10.4)
Cash distributions	(0.1)				(0.1)
Stock-based compensation	0.7		0.7
Exercise of stock options	0.1		0.1
Repurchase of stock	(2)			(2)
Comprehensive income (loss) items	(18.1)					(18.1)
Ending balance (in shares) at Mar. 28, 2020		3,114,150
Ending balance at Mar. 28, 2020	134.2	$ 0	8.8	(3.2)	149.4	(20.8)
Beginning balance (in shares) at Dec. 31, 2019							872,397
Beginning balance at Dec. 31, 2019							$ 869.5
Ending balance (in shares) at Jun. 27, 2020							871,974
Ending balance at Jun. 27, 2020							$ 869.5
Beginning balance (in shares) at Dec. 31, 2019		3,114,150
Beginning balance at Dec. 31, 2019	164	$ 0	8	(1.2)	159.9	(2.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	8.3
Ending balance (in shares) at Jun. 27, 2020		3,114,150
Ending balance at Jun. 27, 2020	162.3	$ 0	9.5	(3.3)	168.1	(12)
Beginning balance (in shares) at Mar. 28, 2020							871,974
Beginning balance at Mar. 28, 2020							$ 869.5
Ending balance (in shares) at Jun. 27, 2020							871,974
Ending balance at Jun. 27, 2020							$ 869.5
Beginning balance (in shares) at Mar. 28, 2020		3,114,150
Beginning balance at Mar. 28, 2020	134.2	$ 0	8.8	(3.2)	149.4	(20.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	18.7				18.7
Stock-based compensation	0.7		0.7
Repurchase of stock	(0.1)			(0.1)
Comprehensive income (loss) items	8.8					8.8
Ending balance (in shares) at Jun. 27, 2020		3,114,150
Ending balance at Jun. 27, 2020	162.3	$ 0	9.5	(3.3)	168.1	(12)
Beginning balance (in shares) at Dec. 31, 2020							869,923	869,823
Beginning balance at Dec. 31, 2020							$ 594.5	$ 594.5
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion to common stock upon IPO (in shares)							(869,923)
Conversion to common stock upon IPO							$ (594.5)
Issuance of stock (in shares)							186
Repurchase of stock (in shares)							(186)
Ending balance (in shares) at Apr. 03, 2021							0
Ending balance at Apr. 03, 2021							$ 0
Beginning balance (in shares) at Dec. 31, 2020		2,772,900
Beginning balance at Dec. 31, 2020	209.2	$ 0	10.3	(3.7)	203	(0.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	36.9				36.9
Conversion to common stock upon IPO (in shares)		206,147,857
Conversion to common stock upon IPO	594.7	$ 0.2	680		(85.5)
Issuance of stock (in shares)		22,200,000
Issuance of stock	351.6		351.6					$ 0.2	$ 0.2
Stock-based compensation	10.6		10.6
Repurchase of stock	(0.2)			(0.2)
Comprehensive income (loss) items	3.7					3.7
Ending balance (in shares) at Apr. 03, 2021		231,120,757
Ending balance at Apr. 03, 2021	1,206.7	$ 0.2	1,052.7	(3.9)	154.4	3.3
Beginning balance (in shares) at Dec. 31, 2020							869,923	869,823
Beginning balance at Dec. 31, 2020							$ 594.5	$ 594.5
Ending balance (in shares) at Jul. 03, 2021							0	0
Ending balance at Jul. 03, 2021							$ 0	$ 0
Beginning balance (in shares) at Dec. 31, 2020		2,772,900
Beginning balance at Dec. 31, 2020	209.2	$ 0	10.3	(3.7)	203	(0.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	89.7
Ending balance (in shares) at Jul. 03, 2021		231,101,257
Ending balance at Jul. 03, 2021	1,263.9	$ 0.2	1,054.2	(4.7)	206.8	7.4
Beginning balance (in shares) at Apr. 03, 2021							0
Beginning balance at Apr. 03, 2021							$ 0
Ending balance (in shares) at Jul. 03, 2021							0	0
Ending balance at Jul. 03, 2021							$ 0	$ 0
Beginning balance (in shares) at Apr. 03, 2021		231,120,757
Beginning balance at Apr. 03, 2021	1,206.7	$ 0.2	1,052.7	(3.9)	154.4	3.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	52.8				52.8
Finalization for IPO conversion	(0.8)		(0.4)		(0.4)
Stock-based compensation	1.9		1.9
Repurchase of stock (in shares)		(19,500)
Repurchase of stock	(0.8)			(0.8)
Comprehensive income (loss) items	4.1					4.1
Ending balance (in shares) at Jul. 03, 2021		231,101,257
Ending balance at Jul. 03, 2021	$ 1,263.9	$ 0.2	$ 1,054.2	$ (4.7)	$ 206.8	$ 7.4

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Cash flows from operating activities
Net income	$ 89.7	$ 8.3
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	9.3	9.6
Amortization of intangible assets	20.5	21.6
Amortization of deferred debt issuance fees	2.3	2.6
Stock-based compensation	12.5	1.3
Deferred income taxes	(3.4)	(2.3)
Allowance for bad debts	0.1	(0.2)
Loss on debt extinguishment	9.4	0
Loss (gain) on disposal of properties	3.7	(0.2)
Changes in operating assets and liabilities
Accounts receivable	(37)	2.7
Inventories	(26.6)	10.5
Other current and non-current assets	(1.5)	(3.1)
Accounts payable and accrued expenses and other liabilities	44.4	22
Net cash provided by operating activities	123.4	72.8
Cash flows from investing activities
Purchases of property, plant, and equipment	(9.9)	(9.9)
Purchases of intangibles	(0.5)	(0.8)
Proceeds from sale of property, plant, and equipment	0	0.2
Proceeds from settlements of investment currency hedge	0.7	1
Net cash used in investing activities	(9.7)	(9.5)
Cash flows from financing activities
Proceeds from issuance of common stock - Initial Public Offering	377.4	0
Costs associated with Initial Public Offering	(26.1)	0
Proceeds from the issuance of Class A common stock	0.2	0.1
Proceeds from the exercise of stock options	0	0.1
Purchase of common stock for treasury	(1)	(2.1)
Proceeds from the issuance of long-term debt	51.7	0
Debt issuance costs	(12.3)	0
Payments of long-term debt	(364.6)	(3.5)
Net change in revolving credit facility	0	56
Payments of capital leases	(0.4)	0
Dividends paid	0	(0.1)
Net cash provided by financing activities	24.9	50.5
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(0.1)	0.1
Change in cash and cash equivalents and restricted cash	138.5	113.9
Cash and cash equivalents and restricted cash, beginning of period	115.3	47.2
Cash and cash equivalents and restricted cash, end of period	253.8	161.1
Supplemental Cash Flow Information [Abstract]
Cash paid - income taxes	25.7	1.6
Cash paid - interest	29.2	29.9
Equipment financed under capital leases	$ 0	$ 2

Nature of Operations and Organi

Nature of Operations and Organization	6 Months Ended
Nature of Operations and Organization	Jul. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Organization	1. Nature of Operations and Organization Hayward Holdings, Inc. (“Holdings” or the “Company”) is a global designer, manufacturer, and marketer of a broad portfolio of pool equipment and associated automation systems. The Company has six primary manufacturing facilities worldwide, which are located in North Carolina, Tennessee, Rhode Island, Spain (two) and China, and other facilities in Canada, France and Australia. In the quarter ended July 3, 2021 we began the process of opening a new distribution center in North Carolina. Cash flow is impacted by the seasonality of the swimming pool business. Cash flow is usually higher in the second and third quarters d ue to terms of sale to our customers. Prior to March 2, 2021, the Company had three classes of stock designated as Class A, Class B and Class C stock. On March 2, 2021, the Company reclassified its Class B common stock into common stock, par value $0.001 per share ( “Common Stock”), and then effected a 195-for-1 split of its Common Stock. On March 11, 2021, the Company converted each outstanding share of Class A stock into 195 shares of Common Stock plus an additional 42.5671 shares, which amount was determined by dividing (a) the Class A preference amount of such share of Class A stock, or $683.84 per share (the “Class A Preference Amount”), by (b) the initial public offering price of $17.00 per a share of Common Stock in the Company’s initial public offering (“IPO”), net of the per share underwriting discount, and (ii) the Company redeemed each outstanding share of Class C stock for an aggregate price of $1.00. References to the “Reclassification” refer to (i) the reclassification of the Company’s Class B common stock into Common Stock on March 2, 2021, (ii) the 195-for-1 stock split of the Company’s common stock on March 2, 2021, (iii) the conversion of the Company’s Class A stock into Common Stock, (iv) the redemption of the Company’s Class C stock and (v) the filing and effectiveness of the Company’s second restated certificate of incorporation and the adoption of its amended and restated bylaws on March 16, 2021. All share and per share amounts for all periods presented in these condensed consolidated financial statements and related notes have been adjusted retroactively, where applicable, to reflect the Reclassification. On March 16, 2021, the Company completed its IPO whereby it issued 22,200,000 shares of its Common Stock, and entities affiliated with CCMP Capital Advisors, LP (“CCMP”), MSD Partners, L.P. (“MSD Partners”) and Alberta Investment Management Corporation (“AIMCo”) and, together with CCMP and MSD Partners, the (“Sponsors”) sold an aggregate of 20,893,665 shares of the Company’s Common Stock, inclusive of 2,815,887 shares sold by entities affiliated with the Sponsors pursuant to the partial exercise of the underwriters’ option to purchase additional shares. The shares began trading on the New York Stock Exchange on March 12, 2021. The aggregate net proceeds received by the Company from the IPO were $356.6, after deducting underwriting discounts and commissions and other offering costs. The Company used the net proceeds from the IPO to repay existing indebtedness outstanding under its credit facilities as further described in Note 7. Long-term Debt

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Jul. 03, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Certain information and note disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), have been condensed or omitted pursuant to such rules and regulations. These interim financial statements should be read in conjunction with the Company’s annual consolidated financial statements and notes thereto for the fiscal year ended December 31, 2020 included in the Company's final prospectus for the IPO filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, filed with the SEC on March 15, 2021 (the "IPO Prospectus"). The results of operations for the three and six months ended July 3, 2021 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2021. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Cash and Cash Equivalents The following table provides supplemental cash flow information and a reconciliation of cash and cash equivalents and restricted cash to amounts reported within the Company's unaudited condensed consolidated balance sheets and unaudited condensed consolidated statements of cash flows: July 3, 2021 December 31, 2020 Cash and cash equivalents $ 251.9 $ 114.9 Restricted cash (a) 1.9 0.4 Total $ 253.8 $ 115.3 (a) included in Other current assets Recent Accounting Pronouncements Not Yet Adopted The Company plans to adopt the following recent accounting pronouncements based on accommodations for Emerging Growth Companies. Accounting for Leases Accounting Standards Update (the "ASU") 2016-02, Leases, was issued by Financial Accounting Standards Board (the "FASB") in February 2016. This standard requires the Company, as the lessee, to recognize most leases on the balance sheet thereby resulting in the recognition of right of use assets and lease obligations for those leases currently classified as operating leases. The standard will be effective for the Company on January 1, 2022 and the Company is evaluating whether it will elect the optional transition method as well as the package of practical expedients, upon adoption. In addition to the recognition of the rights of use assets and lease obligations, the Company antic ipates changes in systems, processes and controls. While the requirements of the new guidance represent a material change from existing GAAP, the underlying economics of items in scope and related cash flows are unchanged. New Credit Loss Standard ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credi t Losses on Financial Instruments , was issued by FASB in June 2016. This standard is effective January 1, 2022, and will impact, at least to some extent, the Company’s accounting and disclosure requirements for its accounts receivable. The Company will continue to identify any other financial assets not excluded from scope. The Company exp ects to adopt this standard on its effective date and is currently evaluating the impact of this new accounting guidance on its unaudited condensed consolidated financial statements. The Company anticipates an impact on the systems, processes and controls. While the requirements of the new guidance represent a change from existing GAAP, the underlying economics of items in scope and related cash flows are unchanged. The Company plans to focus on gathering data, dev eloping procedures and testing before adoption. Focus areas include, but are not limited to (i) updating procedures to reflect new guidance requiring establishment of allowance for credit losses on accounts receivable; (ii) establishing procedures to identify and review all remaining financial assets within scope, (iii) developing, testing, and implementing controls for newly developed procedures, as well as for additional annual reporting requirements. Simplifying the Accounting for Income Taxes ASU 2019-12, “ Simplifying the Accounting for Income Taxes” (Topic 740) , was issued by FASB in December 2019. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning after December 15, 2021 and interim periods beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the effect of the standard on its ongoing financial reporting and will adopt the standard on its effective date. Reference Rate Reform ASU 2020-04, “ Reference Rate Reform (Topic 848) : Facilitation of the Effects of Reference Rate Reform on Financial Reporting ”, was issued by FASB in March 2020. In January 2021, the FASB clarified the scope of that guidance with the issuance of ASU 2021-01, Reference Rate Reform: Scope . ASU 2020-04 provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference LIBOR or another reference rate if certain criteria are met. ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is currently evaluating the potential effects of the adoption of ASU 2020-04.

Revenue

Revenue	6 Months Ended
Revenue	Jul. 03, 2021
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue The following table disaggregates net sales between product groups and geographic destinations, respectively: Three months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Product groups Residential pool $ 344.1 $ 206.9 $ 660.2 $ 361.1 Commercial pool 8.9 5.1 15.8 12.1 Industrial flow control 11.4 8.0 22.8 17.0 Total $ 364.4 $ 220.0 $ 698.8 $ 390.2 Geographic United States $ 247.8 $ 153.8 $ 487.5 $ 270.7 Canada 45.8 23.6 77.5 39.1 Europe 55.9 33.4 105.0 60.7 Rest of World 14.9 9.2 28.8 19.7 Total international revenue 116.6 66.2 211.3 119.5 Total $ 364.4 $ 220.0 $ 698.8 $ 390.2

Inventories

Inventories	6 Months Ended
Inventories	Jul. 03, 2021
Inventory Disclosure [Abstract]
Inventories	4. Inventories Inventories, net, consist of the following: July 3, 2021 December 31, 2020 Raw materials $ 88.2 $ 67.9 Work in progress 16.6 13.5 Finished goods 66.4 63.9 Total $ 171.2 $ 145.3

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
Accrued Expenses and Other Liabilities	Jul. 03, 2021
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	5. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: July 3, 2021 December 31, 2020 Selling, promotional and advertising $ 23.7 $ 25.4 Employee compensation and benefits 37.5 34.2 Warranty reserve 24.7 16.4 Inventory purchases 22.4 13.7 Insurance reserve 10.0 9.8 Deferred income 13.7 11.7 Payroll and other non-income taxes 5.0 3.8 Derivative liability 1.7 9.3 Other accrued liabilities 18.1 17.5 $ 156.8 $ 141.8 The Company offers warranties on certain of its products and records an accrual for estimated future claims. Such accruals are based on historical experience and management’s estimate of the level of future claims. The following table summarizes activities of the warranty reserve accrual: Balance at December 31, 2020 $ 16.4 Accrual for warranties issued during the period 10.1 Payments (4.6) Balance at April 3, 2021 $ 21.9 Accrual for warranties issued during the period 9.8 Payments (7.0) Balance at July 3, 2021 $ 24.7

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The Company's effective tax rate for the three months ended July 3, 2021 and three months ended June 27, 2020 were 19.4% and 22.5%, respectively. The change in the Company’s effective tax rate was primarily due to a reduction of Global Intangible Low Tax Income inclusion, additional tax benefits related to Foreign Derived Intangible Income, utilization of losses within the France subsidiary, and a discrete item for the release of the valuation allowance on the deferred tax assets of the France subsidiary. The Company's effective tax rate for the six months ended July 3, 2021 and six months ended June 27, 2020 were 23.6% and 22.6%, respectively. The change in the Company’s effective tax rate was primarily due to Global Intangible Low Tax Income inclusion, additional tax benefits related to Foreign Derived Intangible Income, and two discrete items (a) a tax expense due to accelerated vesting of performance based grants due to the IPO and (b) a tax benefit due to the release of the valuation allowance on the deferred tax assets of the France subsidiary. The Company will recognize a tax benefit in the financial statements for an uncertain tax position only if the Company's assessment is that the position is "more likely than not" (i.e., a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term "tax position" refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for financial reporting purposes. There were no uncertain tax positions at July 3, 2021 and $0.3 at June 27, 2020. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities and projected future taxable income in making this assessment. Management evaluates the need for valuation allowances on the deferred tax assets according to the provisions of ASC 740, Income Taxes . In making this determination, the Company assesses all available evidence (positive and negative) including recent earnings, internally-prepared income tax projections, and historical financial performance.

Long-Term Debt, Net

Long-Term Debt, Net	6 Months Ended
Long-Term Debt, Net	Jul. 03, 2021
Debt Disclosure [Abstract]
Long-Term Debt, Net	7. Long-Term Debt, net Long-term debt, net, consists of the following: July 3, 2021 December 31, 2020 First Lien Term Facility, as amended, due May 28, 2028 $ 1,000.0 $ 958.0 Incremental First Lien Term Facility, due August 4, 2026 — 150.0 Second Lien Term Facility — 205.0 ABL Revolving Credit Facility, as amended, term ending on June 1, 2026 — — Capital lease obligations 9.3 9.7 Subtotal 1,009.3 1,322.7 Less: Current portion of the long-term debt (12.1) (2.8) Less: Unamortized debt issuance costs (18.7) (19.6) Total $ 978.5 $ 1,300.3 The Company made $8.0 and $356.6 of voluntary term loan repayments on February 19, 2021 and March 19, 2021, respectively. The total voluntary loan repayments made in the six months ended July 3, 2021 was $364.6. The March 19, 2021 repayment was funded with the net proceeds received from the IPO, of which (i) $205.0 was used to repay in full outstanding borrowings under the Company's Second Lien Term Facility, (ii) $131.1 was used to repay outstanding borrowings under the Company's First Lien Term Facility and (iii) $20.5 was used to repay borrowings under the Incremental First Lien Term Facility. The Company recorded a $5.8 debt extinguishment loss related to the write-off of unamortized deferred financing costs as a result of the partial repayment. On May 28, 2021, the Company amended its First Lien Credit Agreement (the “First Lien Term Facility”) to, among other things, increase the aggregate commitments by $51.0 to $1.0 billion, reduce the interest rate, and extend the maturity date to May 28, 2028. In addition, the Company has the option to borrow additional term loans subject to certain conditions, including the commitment of the participating lenders. Due to the May 28, 2021 amendment to the First Lien Term Facility, the Company, in the three months ended July 3, 2021, recorded a $3.6 debt extinguishment loss related to the write off of unamortized deferred financing costs as a result of a change in participating lenders. During the six months ended July 3, 2021, the Company recorded a total loss on debt extinguishment of $9.4. The First Lien Term Facility now bears interest at a rate equal to a base rate or the London Interbank Offered Rate (LIBOR), plus, in either case, an applicable margin. In the case of LIBOR tranches, the applicable margin is 2.75% per annum with a 0.50% floor, with a stepdown to 2.50% per annum with a 0.50% floor when net secured leverage is less than 2.5x. The First Lien Term Loan will amortize quarterly at a rate of 0.25% of the original principal amount and requires a $2.5 repayment of principal on the last business day of each March, June, September and December. The effective interest rate over the life of the new $1 billion First Lien Term Facility to May 2028, net of the interest rate hedge, is estimated at 3.67% which compares to the interest rate in effect on April 3, 2021 of 4.90% for the then outstanding $820.0 first lien term loan and 4.96% for the $128.4 incremental first lien term loan. On June 1, 2021, the Company amended its existing ABL Revolving Credit Facility (the “ABL Facility”) to increase the aggregate amount of the revolving loan commitments to $425, with a peak season commitment of $475, subject to a borrowing base calculation based on available eligible receivables, inventory, and qualified cash in North America. An amount of up to 30% (or up to 40% with agent consent) of the then-outstanding commitments under the ABL Facility is available to our Canada and Spain subsidiaries. A portion of the ABL Facility not to exceed $50.0 is available for the issuance of letters of credit in U.S. dollars, of which $20.0 is available for the issuance of letters of credit in Canadian dollars. The ABL Facility also includes a $50.0 swingline loan facility. The maturity of the facility has been extended to June 1, 2026. The borrowings under the ABL Facility bear interest at a rate equal to LIBOR or a base rate plus a margin of between 1.25% to 1.75% or 0.25% to 0.75% respectively, which are unchanged following the amendment of the ABL Facility. In addition, we have the option to increase the ABL Facility, subject to certain conditions, including the commitment of the participating lenders. The First Lien Term Facility contains various restrictions, covenants, and collateral requirements. Per the First Lien Credit Agreement, the Company must also make an annual mandatory prepayment of principal commencing April 2023 for between 0% and 50% of the excess cash, as defined in the First Lien Credit Agreement, generated in the prior calendar year. The amount due varies with the First Lien Leverage Ratio as defined in the First Lien Credit Agreement, from zero if the first lien net leverage ratio is less than or equal to 2.5x, to fifty percent if the first lien net leverage ratio is greater than 3.0x. For the year ending December 31, 2020, the mandatory prepayment of excess cash was $0, accordingly, there was no prepayment due for

Derivatives and Hedging Transac

Derivatives and Hedging Transactions	6 Months Ended
Derivatives and Hedging Transactions	Jul. 03, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Transactions	8. Derivatives and Hedging Transactions The Company holds derivative financial instruments for the purpose of hedging the risks of certain identifiable and anticipated transactions. In general, the types of risks hedged are those relating to the variability of future earnings and cash flows caused by movements in foreign currency exchange rates and interest rates. In hedging these transactions, the Company holds the following types of derivatives, in the normal course of business. Interest Rate Swap Agreements The Company enters into interest rate swap agreements designated as cash flow hedges to manage its interest rate risk related to its variable rate debt obligations. As cash flow hedges, unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. The interest rate swap agreements are highly cor related to the changes in interest rates to which the Company is exposed. Unrealized gains and losses on these instruments have been designated as effective and as such, the related gains or losses have been recorded as a component of accumulated other comprehensive income (loss), net of tax. As of July 3, 2021, the Company was a party to two interest rate swap agreements that effectively converts an initial notional amount of $550.0 of its variable rate debt obligations to a fixed rate debt. The interest rate swap agreements expire on August 31, 2021. Foreign Exchange Contracts The Company enters into foreign exchange contracts to manage risks associated with foreign currency transactions and future variability of intercompany cash flows arising from those transactions that may be adversely affected by changes in exchange rates. Net Investment Hedges The Company has used and may in the future use net investment hedges to minimize its exposure to variability in the foreign currency translation of its net investment in one of its international subsidiaries. The effective portion of changes in the fair value of the hedging instrument is recognized in accumulated other comprehensive income (loss) consistent with the related translation gains and losses of the hedged net investment. For net investment hedges, all critical terms of the hedged item and the hedging instrument are matched at inception and on an ongoing basis to minimize the risk of hedge ineffectiveness. In August 2017, the Company entered into a four-year euro-denominated cross currency swap agreement of €75.0 to hedge the net investment in one of its foreign subsidiaries designated as a hedge with an original expiry date of August 31, 2021. Since both the notional value of the derivative designated as a hedge of a net investment in a foreign subsidiary equals the portion of the net investment designated as being hedged and the derivative relates solely to the foreign exchange rate between the functional currency of the hedged net investment and the Company’s functional currency, all changes in fair value of the derivative are reported in the cumulative translation adjustment accounts, net of tax within accumulated other comprehensive income (loss) in the Company's unaudited condensed consolidated balance sheets. The amounts recorded in accumulated other comprehensive income (loss) will be reclassified to earnings only upon the sale or liquidation of the Company’s investment in one of its international subsidiaries or on maturity of the underlying agreements. During the three months ended July 3, 2021, the Company terminated the aforementioned €75.0 cross currency swap agreement. Therefore, there were no outstanding net investment hedges as of July 3, 2021. The change in fair value on the cross-currency swap during the quarter that was deferred into accumulated other comprehensive income (loss) was a loss of $1.3. As of July 3, 2021, the ending cumulative amount reclassified into accumulated other comprehensive income (loss) was a gain of $6.9. There was no sale or substantial liquidation of the Company’s investments in the subsidiaries designated, therefore no amounts were reclassified from accumulated other comprehensive income (loss) to earnings during the quarter. Th e following table s ummarizes the gross fair values and location of the derivative instruments within Company's unaudited condensed consolidated balance sheets: July 3, 2021 December 31, 2020 Other Current Assets Accrued Expenses and Other Liabilities Other Current Assets Accrued Expenses and Other Liabilities Interest rate swaps $ — $ 1.7 $ — $ 6.5 Net investment hedge — — — 2.8 Total $ — $ 1.7 $ — $ 9.3 The following tables present the effects of derivative instruments by contract type in accumulated other comprehensive income (loss) in the Company's unaudited condensed consolidated statements of operations and comprehensive income: Unrealized Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified From AOCI to Earnings Location of Gain (loss) Reclassified from AOCI into Earnings Six months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Interest rate swaps $ 3.6 $ (6.5) $ (4.9) $ (1.1) Interest Expense Net investment hedge 1.3 $ 1.0 $ — — N/A Total $ 4.9 $ (5.5) $ (4.9) $ (1.1) Unrealized Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified From AOCI to Earnings Location of Gain (loss) Reclassified from AOCI into Earnings Three months ended Three months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Interest rate swaps $ 1.8 $ 0.5 $ (2.5) $ (1.1) Interest Expense Net investment hedge (1.2) (0.6) — — N/A Total $ 0.6 $ (0.1) $ (2.5) $ (1.1)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jul. 03, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements The Company is required to disclose the estimated fair values of all financial instruments, even if they are not carried at their fair value. The fair values of financial instruments are estimates based upon market conditions and perceived risks. These estimates require management’s judgment and may not be indicative of the future fair values of the assets and liabilities. The Company’s financial instruments include cash and cash equivalents, accounts receivable, and accounts payable. The carrying amount of these instruments approximate fair value because of their short-term nature. The Company’s interest rate swaps and the net investment hedge are measured in the financial statements at fair value on a recurring basis. The fair values of the interest rate swaps are estimated using industry standard valuation models using market-based observable inputs, including interest rate curves. The fair value of the net investment hedge is estimated using readily observable market inputs, such as quotations on forward foreign exchange points and foreign interest rates. These instruments are customary, over-the-counter contracts with various bank counterparties that are not traded in active markets. Accordingly, the fair value measurements of the interest rate swaps and the net investment hedge are categorized as Level 2. As of July 3, 2021, the Company’s long-term debt instruments had a carrying value of $1.0 billion (excluding capital leases) and a fair value of approximately $998.8. As of December 31, 2020, the Company’s long-term debt instruments had a carrying value of $1,313.0 and a fair value of approximately $1,304.6. The estimated fair value of the long-term debt is based on

Segments and Related Informatio

Segments and Related Information	6 Months Ended
Segments and Related Information	Jul. 03, 2021
Segment Reporting [Abstract]
Segments and Related Information	10. Segments and Related Information The Company's operational and management structure is aligned to its key geographies and go-to market strategy resulting in two reportable segments: North America and Europe & Rest of World. Operating segments have not been aggregated to form the reportable segments. The Company determined its reportable segments based on how the Company's Chief Operating Decision Maker ("CODM") reviews the Company’s operating results in assessing performance and allocating resources. The CODM reviews net sales, gross profit and segment income for each of the reportable segments. Gross profit is defined as net sales less cost of sales incurred by the segment. The CODM does not evaluate reportable segments using asset information as these are managed on an enterprise wide basis. Segment income is defined as segment gross profit less sales, general, and administrative expenses ("SG&A") and research, development, and engineering ("RD&E"). The North America segment manufactures and sells residential and commercial swimming pool equipment and supplies as well as equipment that controls the flow of fluids. This segment is composed of three reporting units. The Europe & Rest of World segment manufactures and sells residential and commercial swimming pool equipment and supplies. This segment is composed of two reporting units. The Company sells its products primarily through distributors and retailers. Financial information by reportable segment, net of intercompany transactions, is included in the following summary: Three months ended July 3, 2021 Three months ended June 27, 2020 North America Europe & Rest of World Total North America Europe & Rest of World Total Net sales $ 293.6 $ 70.8 $ 364.4 $ 177.4 $ 42.6 $ 220.0 Gross profit $ 140.4 $ 27.6 $ 168.0 $ 82.6 $ 15.3 $ 97.9 Segment income $ 89.3 $ 12.4 $ 101.7 $ 45.6 $ 8.2 $ 53.8 Capital expenditures (1) $ 4.9 $ 0.2 $ 5.1 $ 1.3 $ — $ 1.3 Depreciation (1) $ 4.1 $ 0.3 $ 4.4 $ 4.2 $ 0.3 $ 4.5 Six months ended July 3, 2021 Six months ended June 27, 2020 North America Europe & Rest of World Total North America Europe & Rest of World Total Net sales $ 565.1 $ 133.7 $ 698.8 $ 309.7 $ 80.5 $ 390.2 Gross profit $ 275.2 $ 52.7 $ 327.9 $ 143.7 $ 29.7 $ 173.4 Segment income $ 175.1 $ 27.2 $ 202.3 $ 68.2 $ 13.8 $ 82.0 Capital expenditures (1) $ 9.6 $ 0.3 $ 9.9 $ 9.0 $ 0.5 $ 9.5 Depreciation (1) $ 8.4 $ 0.7 $ 9.1 $ 8.3 $ 0.6 $ 8.9 (1) Capital expenditures and depreciation associated with Corporate are not included in these totals. The following table presents a reconciliation of segment income to income from operations before income taxes: Three months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Total segment income $ 101.7 $ 53.8 $ 202.3 $ 82.0 Corporate expense, net 10.5 4.1 $ 22.4 $ 4.9 Acquisition and restructuring related expense 1.6 5.3 $ 1.7 $ 10.7 Amortization of intangible assets 8.6 9.5 $ 17.5 $ 19.0 Operating income 81.0 34.9 $ 160.7 $ 47.4 Interest expense, net 13.0 17.5 31.2 37.1 Loss on debt extinguishment 3.6 $ — 9.4 — Other non-operating (income) expense, net (1.0) (6.7) 2.7 (0.4) Total other expense 15.6 10.8 43.3 36.7 Income from operations before income taxes $ 65.4 $ 24.1 $ 117.4 $ 10.7

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jul. 03, 2021
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings Per Share The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders: Three months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Net income $ 52.8 $ 18.7 $ 89.7 $ 8.3 Deemed Dividend - Class A stock redemption (a) — — (85.5) — Dividend paid to Class C stockholders — (0.1) — (0.1) Net income attributable to Class A and common stock holders, basic 52.8 18.6 4.2 8.2 Net income attributable to Class A holders, basic — 18.5 1.5 8.1 Net income attributable to common stockholders, basic $ 52.8 $ 0.1 $ 2.7 $ 0.1 Net income attributable to Class A holders, diluted — 18.5 $ 1.5 $ 8.1 Net income attributable to common stockholders, diluted $ 52.8 $ 0.1 $ 2.7 $ 0.1 Weighted average number of common shares outstanding, basic 231,103,424 1,156,691 143,721,029 1,180,222 Weighted average number of common shares outstanding, diluted 244,203,652 1,552,407 153,571,905 1,821,989 Earnings per share attributable to common stockholders, basic $ 0.23 $ 0.11 $ 0.02 $ 0.05 Earnings per share attributable to common shareholders, diluted $ 0.22 $ 0.11 $ 0.02 $ 0.05 Potential common shares 13,100,228 395,716 9,850,876 641,767 (a) F or the six months ended July 3, 2021, net income attributable to common stockholders, used as the numerator in our earnings per share computations, was reduced by a non-cash charge due to a beneficial conversion feature related to the redemption of Class A shares for common shares as a consequence of the IPO. Such non-cash charge was recorded as a deemed dividend during the three months ended April 3, 2021. This is a one-time accounting reclassification within the unaudited condensed consolidated statements of changes in redeemable stock and stockholders' equity and does not have any current or future income statement or cash impact.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jul. 03, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Litigation The Company is involved in litigation arising in the normal course of business. Where appropriate, these matters have been submitted to the Company’s insurance carrier. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. It is not possible to quantify the ultimate liability, if any, in these matters. As of July 3, 2021, appropriate reserves have been recorded for all litigation and contingencies, including the matters described below. Although the Company can give no assurances about the resolution of pending claims, litigation or other disputes and the effect such outcomes may have on the Company, in the opinion of management, it is remote that such litigation will have a material adverse effect on the financial position, results of operations or cash flows of the Company. Pentair Litigation The Company is presently a defendant in a set of consolidated patent infringement actions brought by Pentair Water Pool and Spa, Inc. and Danfoss Drives A/S(Civil Nos. 5:11-cv-459-D and 5:12-cv-251-D), pending in the United States District Court for the Eastern District of North Carolina. Collectively, the plaintiffs in these actions have asserted that certain of our variable speed pump and controller products infringe claims in seven United States patents: U.S. Patent Nos. 7,854,597; 7,815,420; 7,857,600; 7,686,587; 7,704,051; 8,019,479; and 8,043,070. The Company initiated related USPTO proceedings against certain of the asserted patents, including inter partes reexamination nos. 95/002005, 95/002006, 95/002007, and 95/002008 and inter partes review nos. IPR2013-00285 and IPR2013-00287. The Company has also raised non-infringement and invalidity defenses against each of the patents asserted against us in the district court actions, which are currently stayed. Additionally, the Company is aware of patents related to the asserted patents, including continuing, foreign and/or other related issued patents and pending patent applications, that could be asserted against us in the future. If defenses raised by the Company are not upheld, or if Pentair and/or Danfoss were to prevail in these proceedings and/or otherwise, then we may owe money damages and/or be subject to an injunction for any unexpired patent that would require the cessation of any infringing activity, which could have a negative impact on our supply chain or other business, including the ability of us, our vendor(s), and/or our customer(s) to make, use, sell, offer for sale and/or import variable speed drives or pumps, and/or the automation controllers therefor, any of which including the component(s), feature(s) and/or functionalit(ies) accused of infringement. Yuncos Fire, Spain In June 2021, an accidental fire destroyed a portion of our manufacturing and administrative facilities in Yuncos, Spain. The Company has filed an insurance claim with its carrier and such claim is still under review. The Company has established alternative, temporary, facilities for administrative personnel affected by the fire. The disruption to our manufacturing operations was minimal. During the three months ended July 3, 2021, $5.0 of expense was recorded, representing the write-off of the net book value of the destroyed assets and inventory.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
Stockholders’ Equity	Jul. 03, 2021
Equity [Abstract]
Stockholders’ Equity	13. Stockholders’ Equity Prior to the Reclassification, the outstanding capital stock of the Company consisted of three classes of stock: Class A stock, par value of $0.001 per share of which 1,500,000 shares were authorized; Class B common stock par value of $0.001 per share of which 150,000 shares were authorized; and Class C stock, par value $0.001 per share of which 100 shares were authorized. In October 2020, the Board of Directors approved a distribution of $275.0, or $316.16 per share of Class A stock of the Company. On March 2, 2021 the Company filed a Certificate of Amendment of Amended and Restated Certificate of Incorporation pursuant to which all shares of Class B common stock were reclassified into an equal number of fully paid and non-assessable Common Stock and the Company then effected a 195-for-1 split of its Common Stock. The outstanding capital stock of the Company now consists of a single class of Common Stock. Prior to the IPO, each share of Class A stock was converted into a number of shares of Common Stock equal to 237.57 which is the sum of 195.00 plus the quotient of 42.57 obtained by dividing the then outstanding preference amount of $683.84 for such share by the IPO offering price of $17.00, net of any underwriting discount or a net conversion factor of 16.07. Prior to the IPO all 100 shares of Class C stock were redeemed for $100 dollars in aggregate or $1 per share. On March 16, 2021, the Company filed its Second Restated Certificate of Incorporation. Preferred Stock The Company’s Second Restated Certificate of Incorporation authorized the Company to issue up to 100,000,000 shares of preferred stock, $0.001 value per share, all of which is undesignated. Common Stock The Company’s Second Restated Certificate of Incorporation authorized the Company to issue up to 750,000,000 shares of Common Stock, $0.001 value per share. Each share of Common Stock is entitled to one vote on all matters submitted to a vote of the Company’s stockholders. The holders of Common Stock are entitled to receive dividends, if any, as may be declared by the board of directors. Through July 3, 2021, no dividends had been declared or paid. Dividends paid For the three and six months ended July 3, 2021, no dividend was declared nor paid to the Company's common stockholders. For the three months ended June 27, 2020, there was no dividend declared nor paid to the Company's Class A stockholders whereas $0.05 was paid to the Company's Class C stockholders, or $511.25 per share.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
Stock-based Compensation	Jul. 03, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	14. Stock-based Compensation Overview During the three months ended July 3, 2021, the company did not have any significant stock-based compensation activity beyond grants of equity for new key personnel and forfeitures due to attrition. The total stock-based compensation for the three and six months ended July 3, 2021 was $5.3 and $15.9, respectively, and $0.7 and $1.3, re spectively, for the three and six months ended June 27, 2020. The Company has established two equity incentive plans as described below. 2021 Equity Incentive Plan In March 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”). Under the 2021 Plan, up to 13,737,500 shares of common stock may be granted to employees, directors and consultants in the form of stock options, restricted stock units and other stock-based awards. The terms of awards granted under the 2021 Plan are determined by the Compensation Committee of the Board of Directors, subject to the provisions of the 2021 Plan. As of July 3, 2021 there were 12,356,716 shares available for future issuance under the 2021 Plan. Options granted under the 2021 Plan expire no later than ten years from the date of grant. The vesting period of stock options and restricted stock units granted under the 2021 Plan is generally three years from the date of grant. 2021 Options Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 — — — $ — Granted 1,219,028 $ 17.00 9.95 $ 8.60 Exercised — — — $ — Forfeited — — — $ — Outstanding as of April 3, 2021 1,219,028 $ 17.00 9.95 $ 8.60 Options exercisable as of April 3, 2021 — — $ — Granted 2,542 $ 23.43 9.86 $ 2.17 Exercised — — — $ — Forfeited — — — $ — Outstanding as of July 3, 2021 1,221,570 $ 17.03 9.70 $ 8.57 Options exercisable as of July 3, 2021 — — Options expected to vest as of July 3, 2021 1,221,570 $ 17.03 9.70 $ 8.57 Three months ended July 3, 2021 Six months ended July 3, 2021 The weighted average grant date fair value of options granted in the applicable period was $ 6.30 $ 12.20 The compensation expense recognized for the applicable period was $ 0.60 $ 0.80 There wer e no exercises or vesting of these options during the three and six months ended July 3, 2021. The closing price of our common stock as of July 3, 2021 is $25.60. The total unrecognized compensation cost related to options as of July 3, 2021 is $6.9, which is expected to be recognized over a remaining weighted average period of 2.5 years. The Company determined the fair value of these granted stock options at the date of grant using the Black-Scholes option-pricing model. The principal assumptions used in the Black-Scholes option-pricing model for these stock options granted were as follows: Three months ended July 3, 2021 Six months ended July 3, 2021 Risk-free interest rate 1.08 % 1.03 % Expected life 6 6 Expected dividend yield — % — % Expected volatility 37.00 % 55.80 % 2021 Restricted Stock Units Number of Shares Weighted Average Grant Date Fair Value Unvested as of December 31, 2020 — — Granted 156,543 $ 17.00 Redeemed — — Forfeited — — Unvested as of April 3, 2021 156,543 $ 17.00 Restricted stock units vested as of April 3, 2021 — — Granted 5,357 $ 23.43 Redeemed — — Forfeited (2,686) $ 17.00 Unvested as of July 3, 2021 159,214 $ 17.22 Restricted stock units vested as of July 3, 2021 — — Three months ended July 3, 2021 Six months ended July 3, 2021 Total compensation expense recognized in the applicable period was $ 0.3 $ 0.4 The total unrecognized compensation cost related to the restricted stock units as of July 3, 2021 is $2.3, which is expected to be recognized over a remaining weighted average period of 2.5 years. 2017 Equity Incentive Plan In August 2017, the Company adopted the 2017 Equity Incentive Plan (the “2017 Plan”), which provided for the issuance of stock options, restricted stock and restricted stock awards to officers, directors and employees. The stock options granted under the 2017 Plan generally have a maximum term of up to ten years. Restricted stock, restricted stock awards, and stock options granted under the 2017 Plan generally are eligible to vest based on continued service, generally over five years, or upon an initial public offering and post-initial public offering stock price performance. Due to the Company's IPO on March 12, 2021 and subsequent stock price performance, all performance-vesting conditions were satisfied on March 26, 2021 . For presentation purposes in this document we have recast the figures reported as of December 31, 2020 to recognize the 195-for-1 stock split that occurred on March 2, 2021 as if it were effective on January 1, 2020. As of July 3, 2021 there were 7,181,655 outstanding options and 1,505,784 outstanding restricted stock awards under the 2017 Plan. No future awards will be made under the 2017 Plan following our IPO. Shares underlying awards under the 2017 Plan that expire or become unexercisable without delivery of shares, are forfeited to, or repurchased for cash by, the Company, are settled in cash, or otherwise become available again for grant as available for future awards under the 2021 Plan (as described above). Time-Based Stock Options T he following table summarizes activity for time-based stock option under the 2017 Plan for the six months ended July 3, 2021: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 6,770,400 $ 1.08 7.50 $ 16.17 Granted 524,063 $ 3.61 9.79 $ 18.38 Exercised (42,647) $ 0.50 6.34 $ 16.45 Forfeited (26,910) $ 1.80 — $ 15.69 Outstanding as of April 3, 2021 7,224,906 $ 1.26 8.00 $ 24.34 Options exercisable as of April 3, 2021 2,394,678 $ 0.88 7.41 $ 24.70 Options expected to vest as of April 3, 2021 4,830,228 $ 1.46 8.29 $ 24.16 Granted — $ — — $ — Exercised — $ — — $ — Forfeited (43,251) $ — — $ — Outstanding as July 3, 2021 7,181,655 $ 1.26 7.58 $ 24.34 Options exercisable as of July 3, 2021 2,285,966 $ 0.92 7.02 $ 24.68 Options expected to vest as of July 3, 2021 4,895,689 $ 1.58 7.87 $ 24.02 The following table summarizes activity for time-based stock options for the three months ended April 3, 2021 and July 3, 2021: Three Months Ended July 3, 2021 Six Months Ended July 3, 2021 The weighted average grant date fair value of options granted during the applicable period was $ 2.14 $ — The total compensation cost related to stock options as of the end of the applicable period was $ 5.6 $ 5.0 This cost is expected to be recognized over a remaining weighted average period of 3.20 years 2.87 years Number of options vested during the period 259,350 360,068 Fair value of option vested during the period was $ 1.2 $ 2.6 At July 3, 2021, the total unrecognized compensation cost related to time-based stock options was $5.0. This cost is expected to be recognized over a weighted average period of 2.87 years. The grant-date fair value of options expected to vest as of July 3, 2021 was $1.4. The Company determined the fair value of these time-based stock options at the date of grant using the Black-Scholes option-pricing model. The principal assumptions used in the Black-Scholes option-pricing model for these stock options granted were as follows: Three Months Ended July 3, 2021 Six Months Ended July 3, 2021 Risk-free interest rate 1.08 % N/A Expected life (years) 6.0 N/A Expected dividend yield — % N/A Expected volatility 37.0 % N/A Three Months Ended July 3, 2021 The risk-free interest rate was based on the U.S. Treasury yield curve at date of grant over the expected term of these stock options. Subsequent to our IPO, expected volatility is based upon our post IPO trading. Market and Performance Condition Stock Options The following table summarizes activity for stock options with market and performance conditions under our 2017 Plan: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 6,479,655 $ 1.05 7.69 $ 16.17 Granted 524,063 $ 3.61 9.79 $ — Exercised — $ — — $ — Forfeited (26,910) 1.80 — — Outstanding as of April 3, 2021 6,976,808 $ 1.24 7.91 $ 15.71 Options exercisable as of April 3, 2021 6,976,808 $ 1.24 7.91 $ 15.71 Granted — — — — Exercised — — — — Forfeited (38,903) 1.24 — 16 Outstanding as of July 3, 2021 6,937,905 $ 1.24 7.57 $ 15.71 Options exercisable as of July 3, 2021 6,937,905 $ 1.24 7.57 $ 15.71 The performance criteria was met on March 26, 2021. As of July 3, 2021, there were no remaining unrecognized compensation costs related to performance-based stock options. Time-Based Restricted Stock Awards The following table summarizes activity for time-based restricted stock awards under the 2017 Plan: Restricted Class A Stock Restricted Common Grant date fair value Number of Shares Weighted Number of Shares Weighted Outstanding as of December 31, 2020 — — 1,603,095 $ 1.46 Granted — — — — Modified — — — — Redeemed — — (97,311) $ 1.46 Outstanding as of April 3, 2021 — — 1,505,784 $ 1.46 Restricted stock awards vested as of April 3, 2021 — — 1,260,006 $ 1.46 Granted — — — — Modified — — — — Redeemed — — — — Outstanding as of July 3, 2021 — — 1,505,784 $ 1.46 Restricted stock awards vested as of July 3, 2021 — — 1,260,006 $ 1.46 As of July 3, 2021, the Company had $0.1 of total unrecognized compensation costs relating to these restricted stock awards, which is expected to be recognized through August 4, 2022. Performance-Based Restricted Stock Awards with Market and Performance Conditions The following table summarizes activity for performance-based restricted stock awards under the 2017 Plan: Restricted Class A Stock Restricted Common Grant date fair value Number of Weighted Number of Weighted Outstanding as of December 31, 2020 225,570 $ 4.43 857,805 $ 0.43 Granted — — — — Forfeited — — — — Vested (225,570) $ 4.43 (857,805) $ 0.43 Redeemed — — — $ — Outstanding as of April 3, 2021 and July 3, 2021 — — — $ — The performance criteria was met on March 26, 2021. The fair value of the total vested shares was $1.4. There are no remaining unrecognized compensation costs relating to these restricted stock awards.

Acquisition and Restructuring R

Acquisition and Restructuring Related Expense	6 Months Ended
Acquisition and Restructuring Related Expense	Jul. 03, 2021
Restructuring and Related Activities [Abstract]
Acquisition and Restructuring Related Expense	15. Acquisition and Restructuring Related Expense On March 29, 2021, we announced the relocation of our corporate office functions to Charlotte, North Carolina from Berkeley Heights, New Jersey. We will move our senior leadership team, corporate human resources, US sales leadership, corporate finance and other corporate functions to Charlotte. The Company currently employs approximately 90 corporate employees in Berkeley Heights. As part of the relocation, a number of corporate operational jobs will also move from Berkeley Heights to our production facility in Clemmons, North Carolina. The facility currently employs 850 people, which includes the addition of approximately 100 jobs over the past year. The corporate relocation does not impact any other Hayward location in the United States or internationally. Relocation will begin in the summer of 2021 and is expected to be largely complete by spring 2022. The estimated severance and retention costs pertaining to this relocation are approximately $5.3 and will be recognized when earned. The impacted employees must remain with the Company through their planned exit date to receive each of the severance and retention amounts. Such costs are accounted for in accordance with ASC 420, Exit or Disposal Cost Obligations . In the three and six months ended July 3, 2021 a total of $1.6 of restructuring expense was recognized pertaining to the exit from our leased facility in Chandler, AZ which had been previously announced. The $1.6 includes the write-off of certain inventory and assets as well as severance. 2021 Activity Liability as of December 31, 2020 Costs Recognized Cash Payments Liability as of July 3, 2021 One-time termination benefits $ — $ 0.6 $ — $ 0.6 Facility-related — — — — Other $ — 1.1 — $ 1.1 Total $ — $ 1.7 $ — $ 1.7 In 2019, we announced the cessation of certain manufacturing and distribution operations and sold the real estate associated with these operations with a one year lease back arrangement to allow for the orderly restructuring of these operations. The sale and leaseback was accounted for as separate transactions based on their respective terms in accordance with ASC 840, Leases . All activities related to this were fully completed in 2020. The Company recognizes severance charges on a straight-line basis over the notification period in accordance with ASC 420. Such charges include the facility closure described above and other one-time termination benefits: 2020 Activity Liability as of December 31, 2019 Costs Recognized Cash Payments Liability as of June 28, 2020 One-time termination benefits $ 6.3 $ 1.3 $ (0.4) $ 7.2 Facility-related — 2.5 (2.5) — Other — 0.5 (0.5) — Total $ 6.3 $ 4.3 $ (3.4) $ 7.2 Restructuring costs are included within acquisition and restructuring related costs on the Company’s unaudited condensed consolidated statements of operations and comprehensive income, while the restructuring liability is included as a component of accrued expenses and other liabilities on the Company's unaudited condensed consolidated balance sheets.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jul. 03, 2021
Related Party Transactions [Abstract]
Related Party Transactions	16. Related Party TransactionsPrior to the IPO, the Company incurred approximately $0.8 for Sponsor Management fees and paid approximately $0.2 of Sponsor Dividends (Class C dividends) on an annual basis, payable quarterly. These arrangements were terminated upon the consummation of the IPO. The Company incurred management fees to certain Sponsors in the amount of $0.4 for each of the six months ended July 3, 2021 and June 27, 2020, respectively. In addition, zero and $0.1 in Class C dividends were paid to one Sponsor in lieu of management fees for six months ended July 3, 2021 and June 27, 2020, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jul. 03, 2021
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to the issuance date of the financial statements to determine the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. The Company has evaluated subsequent events through the issuance date of the financial statements that these unaudited condensed consolidated financial statements were issued and no subsequent events were identified.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Jul. 03, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Certain information and note disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), have been condensed or omitted pursuant to such rules and regulations. These interim financial statements should be read in conjunction with the Company’s annual consolidated financial statements and notes thereto for the fiscal year ended December 31, 2020 included in the Company's final prospectus for the IPO filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, filed with the SEC on March 15, 2021 (the "IPO Prospectus"). The results of operations for the three and six months ended July 3, 2021 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2021.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted The Company plans to adopt the following recent accounting pronouncements based on accommodations for Emerging Growth Companies. Accounting for Leases Accounting Standards Update (the "ASU") 2016-02, Leases, was issued by Financial Accounting Standards Board (the "FASB") in February 2016. This standard requires the Company, as the lessee, to recognize most leases on the balance sheet thereby resulting in the recognition of right of use assets and lease obligations for those leases currently classified as operating leases. The standard will be effective for the Company on January 1, 2022 and the Company is evaluating whether it will elect the optional transition method as well as the package of practical expedients, upon adoption. In addition to the recognition of the rights of use assets and lease obligations, the Company antic ipates changes in systems, processes and controls. While the requirements of the new guidance represent a material change from existing GAAP, the underlying economics of items in scope and related cash flows are unchanged. New Credit Loss Standard ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credi t Losses on Financial Instruments , was issued by FASB in June 2016. This standard is effective January 1, 2022, and will impact, at least to some extent, the Company’s accounting and disclosure requirements for its accounts receivable. The Company will continue to identify any other financial assets not excluded from scope. The Company exp ects to adopt this standard on its effective date and is currently evaluating the impact of this new accounting guidance on its unaudited condensed consolidated financial statements. The Company anticipates an impact on the systems, processes and controls. While the requirements of the new guidance represent a change from existing GAAP, the underlying economics of items in scope and related cash flows are unchanged. The Company plans to focus on gathering data, dev eloping procedures and testing before adoption. Focus areas include, but are not limited to (i) updating procedures to reflect new guidance requiring establishment of allowance for credit losses on accounts receivable; (ii) establishing procedures to identify and review all remaining financial assets within scope, (iii) developing, testing, and implementing controls for newly developed procedures, as well as for additional annual reporting requirements. Simplifying the Accounting for Income Taxes ASU 2019-12, “ Simplifying the Accounting for Income Taxes” (Topic 740) , was issued by FASB in December 2019. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning after December 15, 2021 and interim periods beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the effect of the standard on its ongoing financial reporting and will adopt the standard on its effective date. Reference Rate Reform ASU 2020-04, “ Reference Rate Reform (Topic 848) : Facilitation of the Effects of Reference Rate Reform on Financial Reporting ”, was issued by FASB in March 2020. In January 2021, the FASB clarified the scope of that guidance with the issuance of ASU 2021-01, Reference Rate Reform: Scope . ASU 2020-04 provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference LIBOR or another reference rate if certain criteria are met. ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is currently evaluating the potential effects of the adoption of ASU 2020-04.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
Significant Accounting Policies (Tables)	Jul. 03, 2021
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	Cash and Cash Equivalents The following table provides supplemental cash flow information and a reconciliation of cash and cash equivalents and restricted cash to amounts reported within the Company's unaudited condensed consolidated balance sheets and unaudited condensed consolidated statements of cash flows: July 3, 2021 December 31, 2020 Cash and cash equivalents $ 251.9 $ 114.9 Restricted cash (a) 1.9 0.4 Total $ 253.8 $ 115.3 (a) included in Other current assets
Restrictions on Cash and Cash Equivalents	Cash and Cash Equivalents The following table provides supplemental cash flow information and a reconciliation of cash and cash equivalents and restricted cash to amounts reported within the Company's unaudited condensed consolidated balance sheets and unaudited condensed consolidated statements of cash flows: July 3, 2021 December 31, 2020 Cash and cash equivalents $ 251.9 $ 114.9 Restricted cash (a) 1.9 0.4 Total $ 253.8 $ 115.3 (a) included in Other current assets

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jul. 03, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Net Sales by Product Groups	The following table disaggregates net sales between product groups and geographic destinations, respectively: Three months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Product groups Residential pool $ 344.1 $ 206.9 $ 660.2 $ 361.1 Commercial pool 8.9 5.1 15.8 12.1 Industrial flow control 11.4 8.0 22.8 17.0 Total $ 364.4 $ 220.0 $ 698.8 $ 390.2 Geographic United States $ 247.8 $ 153.8 $ 487.5 $ 270.7 Canada 45.8 23.6 77.5 39.1 Europe 55.9 33.4 105.0 60.7 Rest of World 14.9 9.2 28.8 19.7 Total international revenue 116.6 66.2 211.3 119.5 Total $ 364.4 $ 220.0 $ 698.8 $ 390.2
Schedule of Net Sales by Geographic Destinations	The following table disaggregates net sales between product groups and geographic destinations, respectively: Three months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Product groups Residential pool $ 344.1 $ 206.9 $ 660.2 $ 361.1 Commercial pool 8.9 5.1 15.8 12.1 Industrial flow control 11.4 8.0 22.8 17.0 Total $ 364.4 $ 220.0 $ 698.8 $ 390.2 Geographic United States $ 247.8 $ 153.8 $ 487.5 $ 270.7 Canada 45.8 23.6 77.5 39.1 Europe 55.9 33.4 105.0 60.7 Rest of World 14.9 9.2 28.8 19.7 Total international revenue 116.6 66.2 211.3 119.5 Total $ 364.4 $ 220.0 $ 698.8 $ 390.2

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jul. 03, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net, consist of the following: July 3, 2021 December 31, 2020 Raw materials $ 88.2 $ 67.9 Work in progress 16.6 13.5 Finished goods 66.4 63.9 Total $ 171.2 $ 145.3

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
Accrued Expenses and Other Liabilities (Tables)	Jul. 03, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities and Other Current Liabilities	Accrued expenses and other liabilities consist of the following: July 3, 2021 December 31, 2020 Selling, promotional and advertising $ 23.7 $ 25.4 Employee compensation and benefits 37.5 34.2 Warranty reserve 24.7 16.4 Inventory purchases 22.4 13.7 Insurance reserve 10.0 9.8 Deferred income 13.7 11.7 Payroll and other non-income taxes 5.0 3.8 Derivative liability 1.7 9.3 Other accrued liabilities 18.1 17.5 $ 156.8 $ 141.8
Schedule of Change in Warranty Reserve	The following table summarizes activities of the warranty reserve accrual: Balance at December 31, 2020 $ 16.4 Accrual for warranties issued during the period 10.1 Payments (4.6) Balance at April 3, 2021 $ 21.9 Accrual for warranties issued during the period 9.8 Payments (7.0) Balance at July 3, 2021 $ 24.7

Long-Term Debt, Net (Tables)

Long-Term Debt, Net (Tables)	6 Months Ended
Long-Term Debt, Net (Tables)	Jul. 03, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt, net, consists of the following: July 3, 2021 December 31, 2020 First Lien Term Facility, as amended, due May 28, 2028 $ 1,000.0 $ 958.0 Incremental First Lien Term Facility, due August 4, 2026 — 150.0 Second Lien Term Facility — 205.0 ABL Revolving Credit Facility, as amended, term ending on June 1, 2026 — — Capital lease obligations 9.3 9.7 Subtotal 1,009.3 1,322.7 Less: Current portion of the long-term debt (12.1) (2.8) Less: Unamortized debt issuance costs (18.7) (19.6) Total $ 978.5 $ 1,300.3

Derivatives and Hedging Trans_2

Derivatives and Hedging Transactions (Tables)	6 Months Ended
Derivatives and Hedging Transactions (Tables)	Jul. 03, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Effect of Derivative Instruments in the Statement of Financial Position and Operations and Comprehensive Income (Loss)	Th e following table s ummarizes the gross fair values and location of the derivative instruments within Company's unaudited condensed consolidated balance sheets: July 3, 2021 December 31, 2020 Other Current Assets Accrued Expenses and Other Liabilities Other Current Assets Accrued Expenses and Other Liabilities Interest rate swaps $ — $ 1.7 $ — $ 6.5 Net investment hedge — — — 2.8 Total $ — $ 1.7 $ — $ 9.3 The following tables present the effects of derivative instruments by contract type in accumulated other comprehensive income (loss) in the Company's unaudited condensed consolidated statements of operations and comprehensive income: Unrealized Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified From AOCI to Earnings Location of Gain (loss) Reclassified from AOCI into Earnings Six months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Interest rate swaps $ 3.6 $ (6.5) $ (4.9) $ (1.1) Interest Expense Net investment hedge 1.3 $ 1.0 $ — — N/A Total $ 4.9 $ (5.5) $ (4.9) $ (1.1) Unrealized Gain (Loss) Recognized in AOCI Gain (Loss) Reclassified From AOCI to Earnings Location of Gain (loss) Reclassified from AOCI into Earnings Three months ended Three months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Interest rate swaps $ 1.8 $ 0.5 $ (2.5) $ (1.1) Interest Expense Net investment hedge (1.2) (0.6) — — N/A Total $ 0.6 $ (0.1) $ (2.5) $ (1.1)

Segments and Related Informat_2

Segments and Related Information (Tables)	6 Months Ended
Segments and Related Information (Tables)	Jul. 03, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company sells its products primarily through distributors and retailers. Financial information by reportable segment, net of intercompany transactions, is included in the following summary: Three months ended July 3, 2021 Three months ended June 27, 2020 North America Europe & Rest of World Total North America Europe & Rest of World Total Net sales $ 293.6 $ 70.8 $ 364.4 $ 177.4 $ 42.6 $ 220.0 Gross profit $ 140.4 $ 27.6 $ 168.0 $ 82.6 $ 15.3 $ 97.9 Segment income $ 89.3 $ 12.4 $ 101.7 $ 45.6 $ 8.2 $ 53.8 Capital expenditures (1) $ 4.9 $ 0.2 $ 5.1 $ 1.3 $ — $ 1.3 Depreciation (1) $ 4.1 $ 0.3 $ 4.4 $ 4.2 $ 0.3 $ 4.5 Six months ended July 3, 2021 Six months ended June 27, 2020 North America Europe & Rest of World Total North America Europe & Rest of World Total Net sales $ 565.1 $ 133.7 $ 698.8 $ 309.7 $ 80.5 $ 390.2 Gross profit $ 275.2 $ 52.7 $ 327.9 $ 143.7 $ 29.7 $ 173.4 Segment income $ 175.1 $ 27.2 $ 202.3 $ 68.2 $ 13.8 $ 82.0 Capital expenditures (1) $ 9.6 $ 0.3 $ 9.9 $ 9.0 $ 0.5 $ 9.5 Depreciation (1) $ 8.4 $ 0.7 $ 9.1 $ 8.3 $ 0.6 $ 8.9 (1) Capital expenditures and depreciation associated with Corporate are not included in these totals. The following table presents a reconciliation of segment income to income from operations before income taxes: Three months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Total segment income $ 101.7 $ 53.8 $ 202.3 $ 82.0 Corporate expense, net 10.5 4.1 $ 22.4 $ 4.9 Acquisition and restructuring related expense 1.6 5.3 $ 1.7 $ 10.7 Amortization of intangible assets 8.6 9.5 $ 17.5 $ 19.0 Operating income 81.0 34.9 $ 160.7 $ 47.4 Interest expense, net 13.0 17.5 31.2 37.1 Loss on debt extinguishment 3.6 $ — 9.4 — Other non-operating (income) expense, net (1.0) (6.7) 2.7 (0.4) Total other expense 15.6 10.8 43.3 36.7 Income from operations before income taxes $ 65.4 $ 24.1 $ 117.4 $ 10.7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jul. 03, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders: Three months ended Six months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Net income $ 52.8 $ 18.7 $ 89.7 $ 8.3 Deemed Dividend - Class A stock redemption (a) — — (85.5) — Dividend paid to Class C stockholders — (0.1) — (0.1) Net income attributable to Class A and common stock holders, basic 52.8 18.6 4.2 8.2 Net income attributable to Class A holders, basic — 18.5 1.5 8.1 Net income attributable to common stockholders, basic $ 52.8 $ 0.1 $ 2.7 $ 0.1 Net income attributable to Class A holders, diluted — 18.5 $ 1.5 $ 8.1 Net income attributable to common stockholders, diluted $ 52.8 $ 0.1 $ 2.7 $ 0.1 Weighted average number of common shares outstanding, basic 231,103,424 1,156,691 143,721,029 1,180,222 Weighted average number of common shares outstanding, diluted 244,203,652 1,552,407 153,571,905 1,821,989 Earnings per share attributable to common stockholders, basic $ 0.23 $ 0.11 $ 0.02 $ 0.05 Earnings per share attributable to common shareholders, diluted $ 0.22 $ 0.11 $ 0.02 $ 0.05 Potential common shares 13,100,228 395,716 9,850,876 641,767 (a) F or the six months ended July 3, 2021, net income attributable to common stockholders, used as the numerator in our earnings per share computations, was reduced by a non-cash charge due to a beneficial conversion feature related to the redemption of Class A shares for common shares as a consequence of the IPO. Such non-cash charge was recorded as a deemed dividend during the three months ended April 3, 2021. This is a one-time accounting reclassification within the unaudited condensed consolidated statements of changes in redeemable stock and stockholders' equity and does not have any current or future income statement or cash impact.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
Stock-based Compensation (Tables)	Jul. 03, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 — — — $ — Granted 1,219,028 $ 17.00 9.95 $ 8.60 Exercised — — — $ — Forfeited — — — $ — Outstanding as of April 3, 2021 1,219,028 $ 17.00 9.95 $ 8.60 Options exercisable as of April 3, 2021 — — $ — Granted 2,542 $ 23.43 9.86 $ 2.17 Exercised — — — $ — Forfeited — — — $ — Outstanding as of July 3, 2021 1,221,570 $ 17.03 9.70 $ 8.57 Options exercisable as of July 3, 2021 — — Options expected to vest as of July 3, 2021 1,221,570 $ 17.03 9.70 $ 8.57 Three months ended July 3, 2021 Six months ended July 3, 2021 The weighted average grant date fair value of options granted in the applicable period was $ 6.30 $ 12.20 The compensation expense recognized for the applicable period was $ 0.60 $ 0.80 T he following table summarizes activity for time-based stock option under the 2017 Plan for the six months ended July 3, 2021: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 6,770,400 $ 1.08 7.50 $ 16.17 Granted 524,063 $ 3.61 9.79 $ 18.38 Exercised (42,647) $ 0.50 6.34 $ 16.45 Forfeited (26,910) $ 1.80 — $ 15.69 Outstanding as of April 3, 2021 7,224,906 $ 1.26 8.00 $ 24.34 Options exercisable as of April 3, 2021 2,394,678 $ 0.88 7.41 $ 24.70 Options expected to vest as of April 3, 2021 4,830,228 $ 1.46 8.29 $ 24.16 Granted — $ — — $ — Exercised — $ — — $ — Forfeited (43,251) $ — — $ — Outstanding as July 3, 2021 7,181,655 $ 1.26 7.58 $ 24.34 Options exercisable as of July 3, 2021 2,285,966 $ 0.92 7.02 $ 24.68 Options expected to vest as of July 3, 2021 4,895,689 $ 1.58 7.87 $ 24.02 The following table summarizes activity for time-based stock options for the three months ended April 3, 2021 and July 3, 2021: Three Months Ended July 3, 2021 Six Months Ended July 3, 2021 The weighted average grant date fair value of options granted during the applicable period was $ 2.14 $ — The total compensation cost related to stock options as of the end of the applicable period was $ 5.6 $ 5.0 This cost is expected to be recognized over a remaining weighted average period of 3.20 years 2.87 years Number of options vested during the period 259,350 360,068 Fair value of option vested during the period was $ 1.2 $ 2.6 The following table summarizes activity for stock options with market and performance conditions under our 2017 Plan: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 6,479,655 $ 1.05 7.69 $ 16.17 Granted 524,063 $ 3.61 9.79 $ — Exercised — $ — — $ — Forfeited (26,910) 1.80 — — Outstanding as of April 3, 2021 6,976,808 $ 1.24 7.91 $ 15.71 Options exercisable as of April 3, 2021 6,976,808 $ 1.24 7.91 $ 15.71 Granted — — — — Exercised — — — — Forfeited (38,903) 1.24 — 16 Outstanding as of July 3, 2021 6,937,905 $ 1.24 7.57 $ 15.71 Options exercisable as of July 3, 2021 6,937,905 $ 1.24 7.57 $ 15.71
Schedule of Option Pricing Model for Stock Options Granted	The principal assumptions used in the Black-Scholes option-pricing model for these stock options granted were as follows: Three months ended July 3, 2021 Six months ended July 3, 2021 Risk-free interest rate 1.08 % 1.03 % Expected life 6 6 Expected dividend yield — % — % Expected volatility 37.00 % 55.80 % Three Months Ended July 3, 2021 Six Months Ended July 3, 2021 Risk-free interest rate 1.08 % N/A Expected life (years) 6.0 N/A Expected dividend yield — % N/A Expected volatility 37.0 % N/A Three Months Ended July 3, 2021
Schedule of Restricted Stock Units Activity	Number of Shares Weighted Average Grant Date Fair Value Unvested as of December 31, 2020 — — Granted 156,543 $ 17.00 Redeemed — — Forfeited — — Unvested as of April 3, 2021 156,543 $ 17.00 Restricted stock units vested as of April 3, 2021 — — Granted 5,357 $ 23.43 Redeemed — — Forfeited (2,686) $ 17.00 Unvested as of July 3, 2021 159,214 $ 17.22 Restricted stock units vested as of July 3, 2021 — — Three months ended July 3, 2021 Six months ended July 3, 2021 Total compensation expense recognized in the applicable period was $ 0.3 $ 0.4
Schedule of Restricted Stock Awards	The following table summarizes activity for time-based restricted stock awards under the 2017 Plan: Restricted Class A Stock Restricted Common Grant date fair value Number of Shares Weighted Number of Shares Weighted Outstanding as of December 31, 2020 — — 1,603,095 $ 1.46 Granted — — — — Modified — — — — Redeemed — — (97,311) $ 1.46 Outstanding as of April 3, 2021 — — 1,505,784 $ 1.46 Restricted stock awards vested as of April 3, 2021 — — 1,260,006 $ 1.46 Granted — — — — Modified — — — — Redeemed — — — — Outstanding as of July 3, 2021 — — 1,505,784 $ 1.46 Restricted stock awards vested as of July 3, 2021 — — 1,260,006 $ 1.46 The following table summarizes activity for performance-based restricted stock awards under the 2017 Plan: Restricted Class A Stock Restricted Common Grant date fair value Number of Weighted Number of Weighted Outstanding as of December 31, 2020 225,570 $ 4.43 857,805 $ 0.43 Granted — — — — Forfeited — — — — Vested (225,570) $ 4.43 (857,805) $ 0.43 Redeemed — — — $ — Outstanding as of April 3, 2021 and July 3, 2021 — — — $ —

Acquisition and Restructuring_2

Acquisition and Restructuring Related Expense (Tables)	6 Months Ended
Acquisition and Restructuring Related Expense (Tables)	Jul. 03, 2021
Restructuring and Related Activities [Abstract]
Schedule of Charges For Facility Closure And Other One Time Termination Benefits	2021 Activity Liability as of December 31, 2020 Costs Recognized Cash Payments Liability as of July 3, 2021 One-time termination benefits $ — $ 0.6 $ — $ 0.6 Facility-related — — — — Other $ — 1.1 — $ 1.1 Total $ — $ 1.7 $ — $ 1.7 2020 Activity Liability as of December 31, 2019 Costs Recognized Cash Payments Liability as of June 28, 2020 One-time termination benefits $ 6.3 $ 1.3 $ (0.4) $ 7.2 Facility-related — 2.5 (2.5) — Other — 0.5 (0.5) — Total $ 6.3 $ 4.3 $ (3.4) $ 7.2

Nature of Operations and Orga_2

Nature of Operations and Organization (Details) $ / shares in Units, $ in Millions	Mar. 16, 2021USD ($)$ / sharesshares	Mar. 11, 2021$ / shares	Mar. 02, 2021$ / shares	Jul. 03, 2021manufacturing_facility$ / shares	Mar. 01, 2021class	Dec. 31, 2020$ / shares
Class of Stock [Line Items]
Number of manufacturing facilities \| manufacturing_facility				6
Number of classes of stock \| class					3
Stock split, conversion ratio			195
Additional conversion to common stock (in usd per share)		$ 42.5671
Proceeds from IPO \| $	$ 356.6
IPO
Class of Stock [Line Items]
Offering price (in usd per share)		$ 17
Number of shares issued (in shares) \| shares	22,200,000
Sponsors
Class of Stock [Line Items]
Number of shares issued (in shares) \| shares	20,893,665
Underwriters option
Class of Stock [Line Items]
Number of shares issued (in shares) \| shares	2,815,887
Common Class B
Class of Stock [Line Items]
Redeemable stock, par value (in usd per share)			$ 0.001			$ 0.001
Stock split, conversion ratio		195	195
Common Class A
Class of Stock [Line Items]
Redeemable stock, par value (in usd per share)				$ 0.001		0.001
Stock split, conversion ratio	195
Outstanding performance amount (in usd per share)	$ 683.84	$ 683.84
Common Class A \| IPO
Class of Stock [Line Items]
Offering price (in usd per share)	17
Common Class C
Class of Stock [Line Items]
Redeemable stock, par value (in usd per share)				$ 0.001		$ 0.001
Redemption price (in usd per share)	$ 1	$ 1

Significant Accounting Polici_4

Significant Accounting Policies - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 251.9	$ 114.9
Restricted cash	1.9	0.4
Total cash and cash equivalents and restricted cash	$ 253.8	$ 115.3

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($) $ in Millions	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Revenue from External Customer [Line Items]
Net sales	$ 364.4	$ 220	$ 698.8	$ 390.2
United States
Revenue from External Customer [Line Items]
Net sales	247.8	153.8	487.5	270.7
Total international revenue
Revenue from External Customer [Line Items]
Net sales	116.6	66.2	211.3	119.5
Canada
Revenue from External Customer [Line Items]
Net sales	45.8	23.6	77.5	39.1
Europe
Revenue from External Customer [Line Items]
Net sales	55.9	33.4	105	60.7
Rest of World
Revenue from External Customer [Line Items]
Net sales	14.9	9.2	28.8	19.7
Residential pool
Revenue from External Customer [Line Items]
Net sales	344.1	206.9	660.2	361.1
Commercial pool
Revenue from External Customer [Line Items]
Net sales	8.9	5.1	15.8	12.1
Industrial flow control
Revenue from External Customer [Line Items]
Net sales	$ 11.4	$ 8	$ 22.8	$ 17

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 88.2	$ 67.9
Work in progress	16.6	13.5
Finished goods	66.4	63.9
Total inventory	$ 171.2	$ 145.3

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Millions	Jul. 03, 2021	Apr. 03, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Selling, promotional and advertising	$ 23.7		$ 25.4
Employee compensation and benefits	37.5		34.2
Warranty reserve	24.7	$ 21.9	16.4
Inventory purchases	22.4		13.7
Insurance reserve	10		9.8
Deferred income	13.7		11.7
Payroll and other non-income taxes	5		3.8
Derivative liability	1.7		9.3
Other accrued liabilities	18.1		17.5
Accrued expenses and other liabilities	$ 156.8		$ 141.8

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities - Warranty Reserve (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 03, 2021	Apr. 03, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 21.9	$ 16.4
Accrual for warranties issued during the period	9.8	10.1
Payments	(7)	(4.6)
Ending balance	$ 24.7	$ 21.9

Accrued Expenses and Other Li_5

Accrued Expenses and Other Liabilities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Payables and Accruals [Abstract]
Warranty expense	$ 9.8	$ 7	$ 19.9	$ 12

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($)	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	19.40%	22.50%	23.60%	22.60%
Uncertain tax positions reserve	$ 0		$ 0		$ 300,000

Long-Term Debt, Net - Schedule

Long-Term Debt, Net - Schedule Of Long-Term Debt (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Capital lease obligations	$ 9.3	$ 9.7
Long-term debt, subtotal	1,009.3	1,322.7
Less: Current portion of the long-term debt	(12.1)	(2.8)
Less: Unamortized debt issuance costs	(18.7)	(19.6)
Long-term debt, net	978.5	1,300.3
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028
Line of Credit Facility [Line Items]
Long-term debt, gross	1,000	958
Term Loan \| Incremental First Lien Term Facility, due August 4, 2026
Line of Credit Facility [Line Items]
Long-term debt, gross	0	150
Term Loan \| Second Lien Term Facility
Line of Credit Facility [Line Items]
Long-term debt, gross	0	205
Revolving Credit Facility \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026
Line of Credit Facility [Line Items]
Long-term debt, gross	$ 0	$ 0

Long-Term Debt, Net - Additiona

Long-Term Debt, Net - Additional Information (Details) - USD ($) $ in Millions	Jun. 01, 2021	May 28, 2021	Mar. 19, 2021	Feb. 19, 2021	Mar. 19, 2021	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Dec. 31, 2020	Apr. 03, 2021
Line of Credit Facility [Line Items]
Term loan repayments								$ 364.6	$ 3.5
Loss on debt extinguishment					$ 5.8	$ 3.6	$ 0	9.4	$ 0
Term Loan
Line of Credit Facility [Line Items]
Term loan repayments			$ 356.6	$ 8				364.6
Term Loan \| Second Lien Term Facility
Line of Credit Facility [Line Items]
Term loan repayments			205
Long-term debt, gross						0		0		$ 205
Term Loan \| First Lien Term Facility, Due August 4, 2024
Line of Credit Facility [Line Items]
Term loan repayments			131.1
Term Loan \| Incremental First Lien Term Facility, due August 4, 2026
Line of Credit Facility [Line Items]
Term loan repayments			$ 20.5
Long-term debt, gross						0		0		150
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028
Line of Credit Facility [Line Items]
Loss on debt extinguishment		$ 3.6
Increase to maximum borrowing capacity		51
Maximum borrowing capacity		$ 1,000
Secured leverage ratio		2.5
Quarterly amortization rate, principal		0.25%
Periodic principal payment		$ 2.5
Long-term debt, gross						$ 1,000		$ 1,000		958
Interest rate						3.67%		3.67%
Leverage ratio threshold for mandatory prepayment of zero		2.5
Leverage ratio threshold for mandatory prepayment of fifty percent		3
Mandatory prepayment of excess cash										0
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028 \| LIBOR \| Debt Instrument, Covenant Period One
Line of Credit Facility [Line Items]
Basis spread		2.75%
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028 \| LIBOR \| Debt Instrument, Covenant Period Two
Line of Credit Facility [Line Items]
Basis spread		2.50%
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028 \| Minimum
Line of Credit Facility [Line Items]
Mandatory annual prepayment, percentage of excess cash		0.00%
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028 \| Minimum \| LIBOR \| Debt Instrument, Covenant Period One
Line of Credit Facility [Line Items]
Basis spread		0.50%
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028 \| Minimum \| LIBOR \| Debt Instrument, Covenant Period Two
Line of Credit Facility [Line Items]
Basis spread		0.50%
Term Loan \| First Lien Term Facility, as amended, due May 28, 2028 \| Maximum
Line of Credit Facility [Line Items]
Mandatory annual prepayment, percentage of excess cash		50.00%
Term Loan \| First Lien Term Facility, Due May 27, 2028, Term Loan One
Line of Credit Facility [Line Items]
Long-term debt, gross											$ 820
Interest rate											4.90%
Term Loan \| First Lien Term Facility, Due May 27, 2028, Term Loan Two
Line of Credit Facility [Line Items]
Long-term debt, gross											$ 128.4
Interest rate											4.96%
Revolving Credit Facility \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 425
Long-term debt, gross						$ 0		$ 0		$ 0
Peak season maximum borrowing capacity	$ 475
Percentage available to subsidiaries for current borrowing capacity	30.00%
Percentage available to subsidiaries with agent consent	40.00%
Revolving Credit Facility \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026 \| Minimum \| LIBOR
Line of Credit Facility [Line Items]
Basis spread	1.25%
Revolving Credit Facility \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026 \| Minimum \| Base Rate
Line of Credit Facility [Line Items]
Basis spread	0.25%
Revolving Credit Facility \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026 \| Maximum \| LIBOR
Line of Credit Facility [Line Items]
Basis spread	1.75%
Revolving Credit Facility \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026 \| Maximum \| Base Rate
Line of Credit Facility [Line Items]
Basis spread	0.75%
Letter of Credit, US Dollars \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 50
Letter of Credit, Canadian Dollars \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026
Line of Credit Facility [Line Items]
Maximum borrowing capacity	20
Swingline Loan \| ABL Revolving Credit Facility, as amended, term ending on June 1, 2026
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 50

Derivatives and Hedging Trans_3

Derivatives and Hedging Transactions - Additional Information (Details) € in Millions, $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended
	Aug. 31, 2017EUR (€)	Jul. 03, 2021USD ($)derivative_contract	Jul. 03, 2021EUR (€)	Jun. 27, 2020USD ($)	Jul. 03, 2021USD ($)derivative_contract	Jun. 27, 2020USD ($)
Derivative [Line Items]
Loss deferred into other comprehensive income (loss)		$ 1.2		$ 0.6	$ (1.3)	$ (1)
Interest rate swaps
Derivative [Line Items]
Number of interest rate derivatives held \| derivative_contract		2			2
Interest rate swaps \| Interest rate swaps
Derivative [Line Items]
Derivative, notional amount		$ 550			$ 550
Cross currency swap \| Net investment hedge
Derivative [Line Items]
Derivative, notional amount \| €	€ 75
Term of derivative contract	4 years
Derivative, notional amount terminated \| €			€ 75
Loss deferred into other comprehensive income (loss)		1.3
Cumulative gain reclassed into accumulated other comprehensive income (loss)		$ 6.9			$ 6.9

Derivatives and Hedging Trans_4

Derivatives and Hedging Transactions - Gross Fair Values and Location of Derivative Instruments (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Other Current Assets
Derivatives, Fair Value [Line Items]
Other Current Assets	$ 0	$ 0
Other Current Assets \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Other Current Assets	0	0
Other Current Assets \| Net investment hedge
Derivatives, Fair Value [Line Items]
Other Current Assets	0	0
Accrued Expenses and Other Liabilities
Derivatives, Fair Value [Line Items]
Accrued Expenses and Other Liabilities	1.7	9.3
Accrued Expenses and Other Liabilities \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Accrued Expenses and Other Liabilities	1.7	6.5
Accrued Expenses and Other Liabilities \| Net investment hedge
Derivatives, Fair Value [Line Items]
Accrued Expenses and Other Liabilities	$ 0	$ 2.8

Derivatives and Hedging Trans_5

Derivatives and Hedging Transactions - Effects of Derivative Instruments by Contract Type in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in AOCI, Net investment hedge	$ (1.2)	$ (0.6)	$ 1.3	$ 1
Gain (Loss) Reclassified From AOCI to Earnings, Net investment hedge	0	0	0	0
Unrealized Gain (Loss) Recognized in AOCI, Total	0.6	(0.1)	4.9	(5.5)
Gain (Loss) Reclassified From AOCI to Earnings, Total	(2.5)	(1.1)	(4.9)	(1.1)
Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in AOCI, Interest rate swaps	1.8	0.5	3.6	(6.5)
Gain (Loss) Reclassified From AOCI to Earnings, Interest rate swaps	$ (2.5)	$ (1.1)	$ (4.9)	$ (1.1)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Carrying value
Debt Instrument [Line Items]
Long term debt	$ 1,000	$ 1,313
Fair value \| Level 2, fair value inputs
Debt Instrument [Line Items]
Long term debt	$ 998.8	$ 1,304.6

Segments and Related Informat_3

Segments and Related Information - Additional Information (Details)	6 Months Ended
	Jul. 03, 2021segmentreporting_unit
Revenue, Major Customer [Line Items]
Number of reportable segments \| segment	2
North America
Revenue, Major Customer [Line Items]
Number of reporting units	3
Europe & Rest of World
Revenue, Major Customer [Line Items]
Number of reporting units	2

Segments and Related Informat_4

Segments and Related Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Revenue, Major Customer [Line Items]
Net sales	$ 364.4	$ 220	$ 698.8	$ 390.2
Gross profit	168	97.9	327.9	173.4
Operating income	81	34.9	160.7	47.4
Depreciation			9.3	9.6
Operating segments
Revenue, Major Customer [Line Items]
Net sales	364.4	220	698.8	390.2
Gross profit	168	97.9	327.9	173.4
Operating income	101.7	53.8	202.3	82
Capital expenditures	5.1	1.3	9.9	9.5
Depreciation	4.4	4.5	9.1	8.9
North America \| Operating segments
Revenue, Major Customer [Line Items]
Net sales	293.6	177.4	565.1	309.7
Gross profit	140.4	82.6	275.2	143.7
Operating income	89.3	45.6	175.1	68.2
Capital expenditures	4.9	1.3	9.6	9
Depreciation	4.1	4.2	8.4	8.3
Europe & Rest of World \| Operating segments
Revenue, Major Customer [Line Items]
Net sales	70.8	42.6	133.7	80.5
Gross profit	27.6	15.3	52.7	29.7
Operating income	12.4	8.2	27.2	13.8
Capital expenditures	0.2	0	0.3	0.5
Depreciation	$ 0.3	$ 0.3	$ 0.7	$ 0.6

Segments and Related Informat_5

Segments and Related Information - Reconciliation of Segment Income to Income from Operations Before Income Taxes (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 19, 2021	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Revenue, Major Customer [Line Items]
Operating income		$ 81	$ 34.9	$ 160.7	$ 47.4
Acquisition and restructuring related expense		1.6	5.3	1.7	10.7
Amortization of intangible assets		8.6	9.5	17.5	19
Interest expense, net		13	17.5	31.2	37.1
Loss on debt extinguishment	$ 5.8	3.6	0	9.4	0
Other non-operating (income) expense, net		(1)	(6.7)	2.7	(0.4)
Total other expense		15.6	10.8	43.3	36.7
Income from operations before income taxes		65.4	24.1	117.4	10.7
Operating segments
Revenue, Major Customer [Line Items]
Operating income		101.7	53.8	202.3	82
Corporate
Revenue, Major Customer [Line Items]
Operating income		$ 10.5	$ 4.1	$ 22.4	$ 4.9

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jun. 27, 2020	Mar. 28, 2020	Jul. 03, 2021	Jun. 27, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 52.8	$ 36.9	$ 18.7	$ (10.4)	$ 89.7	$ 8.3
Net income attributable to common stockholders, basic	52.8		0.1		2.7	0.1
Net income attributable to common stockholders, diluted	$ 52.8		$ 0.1		$ 2.7	$ 0.1
Weighted Average Number of Shares Outstanding, Basic [Abstract]
Weighted average number of common shares outstanding, basic (in shares)	231,103,424		1,156,691		143,721,029	1,180,222
Weighted average number of common shares outstanding, diluted (in shares)	244,203,652		1,552,407		153,571,905	1,821,989
Earnings Per Share, Basic and Diluted [Abstract]
Earnings per share attributable to common stockholders, basic (in usd per share)	$ 0.23		$ 0.11		$ 0.02	$ 0.05
Earnings per share attributable to common shareholders, diluted (in usd per share)	$ 0.22		$ 0.11		$ 0.02	$ 0.05
Potential common shares (in shares)	13,100,228		395,716		9,850,876	641,767
Common Class A
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends	$ 0		$ 0		$ (85.5)	$ 0
Net income attributable to common stockholders, basic	0		18.5		1.5	8.1
Net income attributable to common stockholders, diluted	0		18.5		1.5	8.1
Common Class C
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends	0		(0.1)		0	(0.1)
Class A and common stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to common stockholders, basic	$ 52.8		$ 18.6		$ 4.2	$ 8.2

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jul. 03, 2021USD ($)
Yuncos, Spain fire
Loss Contingencies [Line Items]
Expense recorded on the write-off of net book of destroyed assets and inventory	$ 5

Stockholders_ Equity (Details)

Stockholders’ Equity (Details)	Mar. 16, 2021USD ($)$ / sharesshares	Mar. 11, 2021$ / shares	Mar. 02, 2021$ / shares	Oct. 31, 2020USD ($)$ / shares	Jul. 03, 2021$ / sharesshares	Jun. 27, 2020USD ($)$ / shares	Jul. 03, 2021$ / sharesshares	Jun. 27, 2020USD ($)$ / shares	Dec. 31, 2020$ / sharesshares
Class of Stock [Line Items]
Stock split, conversion ratio			195
Preferred stock authorized (in shares) \| shares	100,000,000				100,000,000		100,000,000
Preferred shares par value (in usd per share)	$ 0.001				$ 0.001		$ 0.001
Common stock, authorized (in shares) \| shares	750,000,000				750,000,000		750,000,000		750,000,000
Common stock, par value (in usd per share)	$ 0.001				$ 0.001		$ 0.001		$ 0.001
Common stock dividends declared (in usd per share)					0		0
Common stock dividends cash paid (in usd per share)					0		0
IPO
Class of Stock [Line Items]
Offering price (in usd per share)		$ 17
Common Class A
Class of Stock [Line Items]
Redeemable stock, par value (in usd per share)					$ 0.001		$ 0.001		$ 0.001
Redeemable stock authorized (in shares) \| shares					0		0		1,500,000
Dividend distributions \| $				$ 275,000,000
Dividend distributions (in usd per share)				$ 316.16
Stock split, conversion ratio	195
Conversion price (in usd per share)	$ 237.57
Quotient conversion ratio (in usd per share)	42.57
Outstanding performance amount (in usd per share)	683.84	$ 683.84
Common stock dividends declared (in usd per share)						$ 0		$ 0
Common stock dividends cash paid (in usd per share)						0		0
Common Class A \| IPO
Class of Stock [Line Items]
Offering price (in usd per share)	17
Net conversion factor (in usd per share)	$ 16.07
Common Class B
Class of Stock [Line Items]
Redeemable stock, par value (in usd per share)			$ 0.001						$ 0.001
Redeemable stock authorized (in shares) \| shares									150,000
Stock split, conversion ratio		195	195
Common Class C
Class of Stock [Line Items]
Redeemable stock, par value (in usd per share)					$ 0.001		$ 0.001		$ 0.001
Redeemable stock authorized (in shares) \| shares					0		0		100
Redemption amount \| $	$ 100
Redemption price (in usd per share)	$ 1	$ 1
Common stock dividends cash paid (in usd per share)						$ 511.25		$ 1,022.5
Dividends paid \| $						$ 50,000		$ 100,000

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	Mar. 02, 2021	Aug. 04, 2017	Jul. 03, 2021USD ($)plan$ / sharesshares	Apr. 03, 2021shares	Jun. 27, 2020USD ($)	Jul. 03, 2021USD ($)plan$ / sharesshares	Jun. 27, 2020USD ($)	Mar. 31, 2021shares	Dec. 31, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $			$ 5,300		$ 700	$ 15,900	$ 1,300
Number of equity incentive plans \| plan			2			2
Stock split, conversion ratio	195
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares authorized for future issuance (in shares)								13,737,500
Remaining shares available for grant (in shares)			12,356,716			12,356,716
Exercise options (in shares)			0	0		0
Options vested (in shares)			0			0
Options outstanding (in shares)			1,221,570	1,219,028		1,221,570			0
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						5 years
Stock options \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $			$ 600			$ 800
Stock options, expiration term						10 years
Closing price common stock (in usd per share) \| $ / shares			$ 25.60			$ 25.60
Weighted average period of stock options expected to be recognized						2 years 6 months
Unrecognized compensation cost \| $			$ 6,900			$ 6,900
Stock options \| 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, expiration term		10 years
Stock option, time based \| 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise options (in shares)			0	42,647
Options vested (in shares)			259,350			360,068
Weighted average period of stock options expected to be recognized			3 years 2 months 12 days			2 years 10 months 13 days
Options outstanding (in shares)			7,181,655	7,224,906		7,181,655			6,770,400
Fair value of options expected to vest \| $						$ 1,400
Stock option, market and performance conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise options (in shares)			0	0
Costs not yet recognized \| $			$ 0			$ 0
Options outstanding (in shares)			6,937,905	6,976,808		6,937,905			6,479,655
RSUs \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $			$ 300			$ 400
Vesting period						3 years
Costs not yet recognized \| $			$ 2,300			$ 2,300
Weighted average period of stock options expected to be recognized						2 years 6 months
Outstanding restricted stock awards (in shares)			159,214	156,543		159,214			0
RSUs, time based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Costs not yet recognized \| $			$ 100			$ 100
RSUs, time based \| Restricted Common
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding restricted stock awards (in shares)			1,505,784			1,505,784			1,603,095
RSUs, market and performance conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense \| $						$ 1,400
Costs not yet recognized \| $			$ 0			$ 0
RSUs, market and performance conditions \| Restricted Common
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding restricted stock awards (in shares)			0			0			857,805
Vested (in shares)						857,805

Stock-based Compensation - Opti

Stock-based Compensation - Options Activity (Details) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jul. 03, 2021	Dec. 31, 2020
2021 Plan
Number of Shares
Outstanding, beginning balance (in shares)	1,219,028	0	0
Granted (in shares)	2,542	1,219,028
Exercised (in shares)	0	0	0
Forfeited (in shares)	0	0
Options vested (in shares)	0		0
Outstanding, ending balance (in shares)	1,221,570	1,219,028	1,221,570	0
Options exercisable (in shares)	0	0	0
Options expected to vest (in shares)	1,221,570		1,221,570
Weighted-Average Exercise Price
Outstanding, beginning balance (in usd per share)	$ 17	$ 0	$ 0
Granted (in usd per share)	23.43	17
Exercised (in usd per share)	0	0
Forfeited (in usd per share)	0	0
Outstanding, ending balance (in usd per share)	17.03	17	17.03	$ 0
Options exercisable (in usd per share)	0	$ 0	0
Options expected to vest (in usd per share)	$ 17.03		$ 17.03
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Life, Outstanding	9 years 8 months 12 days	9 years 11 months 12 days
Weighted-Average Remaining Contractual Life, Granted	9 years 10 months 9 days	9 years 11 months 12 days
Weighted-Average Remaining Contractual Life, Options expected to vest	9 years 8 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 8.57	$ 8.60	$ 8.57	$ 0
Aggregate Intrinsic Value, Granted		8.60
Aggregate Intrinsic Value, Exercised	0	0
Aggregate Intrinsic Value, Forfeited		0
Aggregate Intrinsic Value, Options exercisable		$ 0
Aggregate Intrinsic Value, Options expected to vest	$ 8.57		$ 8.57
Stock option, time based \| 2017 Plan
Number of Shares
Outstanding, beginning balance (in shares)	7,224,906	6,770,400	6,770,400
Granted (in shares)	0	524,063
Exercised (in shares)	0	(42,647)
Forfeited (in shares)	(43,251)	(26,910)
Options vested (in shares)	259,350		360,068
Outstanding, ending balance (in shares)	7,181,655	7,224,906	7,181,655	6,770,400
Options exercisable (in shares)	2,285,966	2,394,678	2,285,966
Options expected to vest (in shares)	4,895,689	4,830,228	4,895,689
Weighted-Average Exercise Price
Outstanding, beginning balance (in usd per share)	$ 1.26	$ 1.08	$ 1.08
Granted (in usd per share)	0	3.61
Exercised (in usd per share)	0	0.50
Forfeited (in usd per share)	0	1.80
Outstanding, ending balance (in usd per share)	1.26	1.26	1.26	$ 1.08
Options exercisable (in usd per share)	0.92	0.88	0.92
Options expected to vest (in usd per share)	$ 1.58	$ 1.46	$ 1.58
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Life, Outstanding	7 years 6 months 29 days	8 years		7 years 6 months
Weighted-Average Remaining Contractual Life, Granted		9 years 9 months 14 days
Weighted-Average Remaining Contractual Life, Exercised		6 years 4 months 2 days
Weighted-Average Remaining Contractual Life, Options exercisable	7 years 7 days	7 years 4 months 28 days
Weighted-Average Remaining Contractual Life, Options expected to vest	7 years 10 months 13 days	8 years 3 months 14 days
Aggregate Intrinsic Value, Outstanding	$ 24.34	$ 24.34	$ 24.34	$ 16.17
Aggregate Intrinsic Value, Granted	0	18.38
Aggregate Intrinsic Value, Exercised	0	16.45
Aggregate Intrinsic Value, Forfeited	0	15.69
Aggregate Intrinsic Value, Options exercisable	24.68	24.70	24.68
Aggregate Intrinsic Value, Options expected to vest	$ 24.02	$ 24.16	$ 24.02
Stock option, market and performance conditions
Number of Shares
Outstanding, beginning balance (in shares)	6,976,808	6,479,655	6,479,655
Granted (in shares)	0	524,063
Exercised (in shares)	0	0
Forfeited (in shares)	(38,903)	(26,910)
Outstanding, ending balance (in shares)	6,937,905	6,976,808	6,937,905	6,479,655
Options exercisable (in shares)	6,937,905	6,976,808	6,937,905
Weighted-Average Exercise Price
Outstanding, beginning balance (in usd per share)	$ 1.24	$ 1.05	$ 1.05
Granted (in usd per share)	0	3.61
Exercised (in usd per share)	0	0
Forfeited (in usd per share)	1.24	1.80
Outstanding, ending balance (in usd per share)	1.24	1.24	1.24	$ 1.05
Options exercisable (in usd per share)	$ 1.24	$ 1.24	$ 1.24
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Life, Outstanding	7 years 6 months 25 days	7 years 10 months 28 days		7 years 8 months 8 days
Weighted-Average Remaining Contractual Life, Granted		9 years 9 months 14 days
Weighted-Average Remaining Contractual Life, Options exercisable	7 years 6 months 25 days	7 years 10 months 28 days
Aggregate Intrinsic Value, Outstanding	$ 15.71	$ 15.71	$ 15.71	$ 16.17
Aggregate Intrinsic Value, Granted	0	0
Aggregate Intrinsic Value, Exercised	0	0
Aggregate Intrinsic Value, Forfeited	16	0
Aggregate Intrinsic Value, Options exercisable	$ 15.71	$ 15.71	$ 15.71

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Options And Restricted Stock Units (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The compensation expense recognized for the applicable period was	$ 5,300,000		$ 700,000	$ 15,900,000	$ 1,300,000
Proceeds from the exercise of stock options				$ 0	$ 100,000
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The total intrinsic value of options exercised during applicable period was	$ 0	$ 0
Options vested (in shares)	0			0
Stock options \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The weighted average grant date fair value of options granted during the applicable period (in usd per share)	$ 6.30			$ 12.20
The total unrecognized compensation cost related to options as of the end of the applicable period was	$ 6,900,000			$ 6,900,000
This cost is expected to be recognized over a remaining weighted average period of				2 years 6 months
The compensation expense recognized for the applicable period was	$ 600,000			$ 800,000
Closing price common stock (in usd per share)	$ 25.60			$ 25.60
Stock option, time based \| 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The weighted average grant date fair value of options granted during the applicable period (in usd per share)	$ 2.14			$ 0
This cost is expected to be recognized over a remaining weighted average period of	3 years 2 months 12 days			2 years 10 months 13 days
The total intrinsic value of options exercised during applicable period was	$ 0	$ 16.45
Fair value of option vested during the period was	$ 1,200,000			$ 2,600,000
Options vested (in shares)	259,350			360,068
Stock option, time based \| 2017 Plan \| Share Based Payment Arrangement, Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The total unrecognized compensation cost related to options as of the end of the applicable period was	$ 5,600,000			$ 5,600,000
Stock option, time based \| 2017 Plan \| Share Based Payment Arrangement, Period Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The total unrecognized compensation cost related to options as of the end of the applicable period was	5,000,000			$ 5,000,000
RSUs \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
This cost is expected to be recognized over a remaining weighted average period of				2 years 6 months
The compensation expense recognized for the applicable period was	$ 300,000			$ 400,000

Stock-based Compensation - Valu

Stock-based Compensation - Valuation of Stock Option Pricing (Details)	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jul. 03, 2021
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.08%		1.03%
Expected life (years)	6 years		6 years
Expected dividend yield	0.00%		0.00%
Expected volatility	37.00%		55.80%
Stock option, time based \| 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		1.08%
Expected life (years)		6 years
Expected dividend yield		0.00%
Expected volatility		37.00%

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jul. 03, 2021
RSUs \| 2021 Plan
Number of Shares
Outstanding, beginning balance (in shares)	156,543	0	0
Granted (in shares)	5,357	156,543
Redeemed (in shares)	0	0
Forfeited (in shares)	(2,686)	0
Outstanding, ending balance (in shares)	159,214	156,543	159,214
Restricted stock awards vested (in shares)	0	0
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in usd pre share)	$ 17	$ 0	$ 0
Granted (in usd per share)	23.43	17
Redeemed (in usd per share)	0	0
Forfeited (in usd per share)	17	0
Outstanding, ending balance (in usd pre share)	17.22	17	$ 17.22
Restricted stock awards vested (in usd per shares)	$ 0	$ 0
RSUs, time based \| Restricted Class A Stock
Number of Shares
Outstanding, beginning balance (in shares)	0	0	0
Granted (in shares)	0	0
Redeemed (in shares)	0	0
Modified (in shares)	0	0
Outstanding, ending balance (in shares)	0	0	0
Restricted stock awards vested (in shares)	0	0
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in usd pre share)	$ 0	$ 0	$ 0
Granted (in usd per share)	0	0
Redeemed (in usd per share)	0	0
Modified (in usd per share)	0	0
Outstanding, ending balance (in usd pre share)	0	0	$ 0
Restricted stock awards vested (in usd per shares)	$ 0	$ 0
RSUs, time based \| Restricted Common
Number of Shares
Outstanding, beginning balance (in shares)		1,603,095	1,603,095
Granted (in shares)	0	0
Redeemed (in shares)	0	(97,311)
Modified (in shares)	0	0
Outstanding, ending balance (in shares)	1,505,784		1,505,784
Restricted stock awards vested (in shares)	1,260,006	1,260,006
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in usd pre share)	$ 1.46	$ 1.46	$ 1.46
Granted (in usd per share)		0
Redeemed (in usd per share)		1.46
Modified (in usd per share)		0
Outstanding, ending balance (in usd pre share)	1.46	1.46	$ 1.46
Restricted stock awards vested (in usd per shares)	$ 1.46	$ 1.46
RSUs, market and performance conditions \| Restricted Class A Stock
Number of Shares
Outstanding, beginning balance (in shares)		225,570	225,570
Granted (in shares)			0
Redeemed (in shares)			0
Forfeited (in shares)			0
Vested (in shares)			(225,570)
Outstanding, ending balance (in shares)	0		0
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in usd pre share)		$ 4.43	$ 4.43
Granted (in usd per share)			0
Redeemed (in usd per share)			0
Forfeited (in usd per share)			0
Vested (in usd per share)			4.43
Outstanding, ending balance (in usd pre share)	$ 0		$ 0
RSUs, market and performance conditions \| Restricted Common
Number of Shares
Outstanding, beginning balance (in shares)		857,805	857,805
Granted (in shares)			0
Redeemed (in shares)			0
Forfeited (in shares)			0
Vested (in shares)			(857,805)
Outstanding, ending balance (in shares)	0		0
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in usd pre share)		$ 0.43	$ 0.43
Granted (in usd per share)			0
Redeemed (in usd per share)	$ 0		0
Forfeited (in usd per share)			0
Vested (in usd per share)			0.43
Outstanding, ending balance (in usd pre share)	$ 0		$ 0

Acquisition and Restructuring_3

Acquisition and Restructuring Related Expense - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Jul. 03, 2021USD ($)employee	Jul. 03, 2021USD ($)employee	Jun. 27, 2020USD ($)	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs \| $	$ 5.3	$ 5.3
Restructuring costs \| $	$ 1.7		$ 4.3
Terms for lease back arrangements				one year
Berkeley Heights, New Jersey
Restructuring Cost and Reserve [Line Items]
Number of employees \| employee	90	90
Clemmons, North Carolina
Restructuring Cost and Reserve [Line Items]
Number of employees \| employee	850	850
Number of jobs added \| employee	100	100
Chandler, Arizona
Restructuring Cost and Reserve [Line Items]
Restructuring costs \| $	$ 1.6	$ 1.6

Acquisition and Restructuring_4

Acquisition and Restructuring Related Expense - Facility Closure and Other One-Time Termination Benefits (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 0	$ 6.3
Costs Recognized	1.7	4.3
Cash Payments	0	(3.4)
Ending Balance	1.7	7.2
One-time termination benefits
Restructuring Reserve [Roll Forward]
Beginning Balance	0	6.3
Costs Recognized	0.6	1.3
Cash Payments	0	(0.4)
Ending Balance	0.6	7.2
Facility-related
Restructuring Reserve [Roll Forward]
Beginning Balance	0	0
Costs Recognized	0	2.5
Cash Payments	0	(2.5)
Ending Balance	0	0
Other
Restructuring Reserve [Roll Forward]
Beginning Balance	0	0
Costs Recognized	1.1	0.5
Cash Payments	0	(0.5)
Ending Balance	$ 1.1	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	2 Months Ended	6 Months Ended
	Mar. 12, 2021	Jul. 03, 2021	Jun. 27, 2020
Sponsors \| Management Fees, Prior To IPO
Related Party Transaction [Line Items]
Management fee	$ 0.8
Sponsors \| Management fees
Related Party Transaction [Line Items]
Management fee		$ 0.4	$ 0.4
Common Class C \| Dividends paid
Related Party Transaction [Line Items]
Management fee		$ 0	$ 0.1
Common Class C \| Sponsors \| Dividends paid
Related Party Transaction [Line Items]
Management fee	$ 0.2