About Watermen
Original Watermen designs and sells lifeguard and swim instructor uniforms, swimwear, and board shorts. It also makes rescue equipment, serving lifeguard agencies, surf teams, and water-safety workers under the Watermen brand.
The company was started in 1979 at Carlsbad State Beach by lifeguards Ken Miller and Jen Miller. It now supplies more than 2,000 lifeguard agencies nationwide, is based in Carlsbad, California, and Daniel Levine serves as president and CEO.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| Oct 22, 2026 | Nov 4, 2026 | $2,941,600of $4.0M target | 16 | $183K | EquityRule 506(b) | Form D ↗ |
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Rounds announced by Watermen
What the company said publicly about its funding. Announced amounts can differ from Form D figures: an announcement can combine several closings, and some money is raised without a Form D.
| Announced | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Feb 13, 2024 | Majority stake acquisition | Undisclosed | HEPCO Capital Management, LLC (lead), Daniel Levine joined as co-investor and president and CEO; founders Jen Miller and Ken Miller stayed on as shareholders and advisors. | Business Wire release ↗ PrivSource deal profile ↗ |
Why Investors Backed Watermen
Original Watermen makes and sells lifeguard and swim instructor uniforms, swimwear, and rescue equipment under the Watermen brand. HEPCO Capital Management, a family investment firm, bought a majority stake in the company in 2024 and brought in apparel executive Daniel Levine as president and CEO. HEPCO and Levine's plan was to grow the core uniform business while pushing the Watermen brand into new consumer lifestyle channels.
What the product does
Watermen's lineup goes beyond uniforms to include rescue gear such as rescue cans and CPR pocket masks. Its swimwear line offers plus and extended sizing up to 6XL for men and women. The company runs team pricing with discounts of 15 percent on orders of 12 pieces or more and 25 percent on orders of 36 or more. It also designs custom shorts, uniforms, jackets, and outerwear for agencies and sports teams.
Progress so far
In June 2026, Watermen announced becoming the official outfitter and the largest sponsor of the United States Lifesaving Association, a multi-year partnership covering lifeguards nationwide. The brand also added a UV-protective swim shirt collection in December 2025, built with UPF 50+ fabric for long days in the sun.
Who backs it
The lead investor is HEPCO Capital Management, a family investment firm founded by Jonathan and Edward Cohen. Daniel Levine, described as a long-time surf, outdoor, and apparel executive, joined as both an investor and president and CEO. A wire release on the deal also named Bill Fradin as a Managing Partner. Founders Jen Miller and Ken Miller stayed on as shareholders and advisors.
We wrote this summary from public statements by Watermen and its investors. It is not investment advice.
Leadership Team
Executive officers and directors listed on Watermen's Form D filed Nov 4, 2026.
Sources
- SECOriginal Watermen, Inc. filing history
- CompanyWatermen customer login page
- CompanyWatermen blog
- CompanyWatermen blog: Official Outfitter of the USLA
- CompanyWatermen about-us page (Our Story)
- CompanyWatermen Lifeguard Equipment page
- CompanyWatermen press: President Recounts History of Company
- CompanyWatermen press: Original Watermen Moves to New, Larger Location