Latham Group, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A​

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Latham Group, Inc.

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Dear Fellow Stockholders:

We are pleased to invite you to attend the 2025 Annual Meeting of Stockholders of Latham Group, Inc. to be held on Thursday, May 1, 2025, at 8:00 a.m. Eastern Daylight Time at The Adelphi Hotel, 365 Broadway, Saratoga Springs, NY 12866.

In 2024, we continued to outperform the U.S. in-ground pool market, succeeded in expanding margins despite lower utilization, and made investments that have positioned the Company for sales growth and accelerated profitability in 2025 and beyond.

Our industry outperformance was driven by continued fiberglass share gains and increased awareness and adoption of automatic safety covers. As consumers continued to recognize the speed of installation, eco-friendly and cost savings advantages of fiberglass pools, this product category gained share again in 2024. And fiberglass pools represented 75% of Latham’s total in-ground pool sales in 2024. Our sales performance also benefited from the expansion of our automatic safety cover business in which we acquired Coverstar Central in August 2024. This accretive acquisition gives us access to Coverstar Central’s network of 400 pool builders and dealers through which we can advance the awareness and adoption of other Latham products. We expect these two key product lines to support continued growth in 2025.

Another key growth initiative Latham progressed in 2024 is our planned expansion in the Sand States—​Florida, Texas, Arizona, and California—which accounted for two-thirds of U.S. new in-ground pool starts, and approximately 17% of Latham’s fiberglass pool sales in 2024. Our strategy to pursue the Sand States opportunity includes expanding our fiberglass pool dealer base, focusing on master planned communities, developing products that align with demand in these markets, and launching marketing campaigns that target Sand States consumers and builders.

As a result of our lean manufacturing and value engineering initiatives we saw gross margin and adjusted EBITDA margin expansion in 2024. With our significantly reduced cost structure, enabled by our lean and value engineering initiatives, Latham is positioned for increased profitability in 2025 and beyond. We concluded 2024 with a cash balance of $56 million providing us with substantial financial flexibility to grow our business.

We enter 2025 in a strong competitive position. Under similar industry conditions to 2024, we believe our leadership in the growing fiberglass pool category, our expanding automatic safety cover business, growth opportunities in the Sand States and our improved cost structure should support another year of market outperformance.

On behalf of our Board of Directors and the entire Latham team, thank you for your continued support.

2025 Annual Meeting of Stockholders

Details regarding the business to be conducted at the 2025 Annual Meeting of Stockholders and admission thereto are described in the accompanying Notice of Annual Meeting of Stockholders and proxy statement. Your vote is important. Whether or not you plan to attend the 2025 Annual Meeting of Stockholders, we hope you will vote by Internet, telephone or mail as soon as possible to ensure your vote is recorded promptly. Please carefully review the instructions on each of your voting options described in the accompanying proxy statement, as well as in the accompanying Notice of Internet Availability of Proxy Materials, proxy card or voting instruction card you received in the mail. Thank you for your ongoing support of and continued interest in Latham Group, Inc. We look forward to your participation at our Annual Meeting.

Sincerely,

Latham, New York

March 21, 2025

Latham Group, Inc. Notice of Annual Meeting of Stockholders to be held May 1, 2025

Notice is hereby given that the 2025 Annual Meeting of Stockholders (the “Annual Meeting”) of Latham Group, Inc., a Delaware corporation, will be held on Thursday, May 1, 2025, at 8:00 a.m. Eastern Daylight Time at The Adelphi Hotel, 365 Broadway, Saratoga Springs, NY 12866 to conduct the following items of business.

We will also consider and act upon such other business as may be properly brought before the Annual Meeting, although we have not received notice of any other matters that may be properly presented at our Annual Meeting.

Stockholders of record at the close of business on March 5, 2025 are entitled to notice of, and to vote at, our Annual Meeting and any adjournment or postponement thereof.

If you are a record holder, you may vote using one of the following methods. If you are a beneficial owner, you may vote using one of the methods listed on your voting instruction card.

We encourage you to vote promptly to ensure your vote is represented at our Annual Meeting and that we have a quorum, regardless of whether you plan to attend in person. Voting in advance does not deprive you of your right to attend our Annual Meeting and to change your vote during our Annual Meeting.

By order of our Board of Directors,

Patrick M. Sheller

Secretary

Latham, New York

March 21, 2025

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 1, 2025

The Notice of the 2025 Annual Meeting of Stockholders, the accompanying proxy statement for the 2025 Annual Meeting of Stockholders and our annual report to stockholders for the fiscal year ended December 31, 2024 are available atwww.proxyvote.com.