Sensing an opportunity with a recovering Arizona housing market and economy, one-time Paddock Pools’ executive Craig Maggi and Valley businessman Tom McKee have purchased the company from previous owner Lincolnshire, which has owned the company since 2005.

Terms of the sale were not disclosed.

Maggi joined Paddock Pools in 2009, nearly doubling sales as service manager. He subsequently became the company’s general manager until leaving in 2012 to head his own company. Raised in Phoenix, McKee is a former Wall Street investment banker and Valley business owner.

• Compiled by staff and wire reports

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