Watts to acquire flow control company
NORTH ANDOVER, MA, Apr. 4, 2011 -- Watts Water Technologies has signed an agreement to acquire Danfoss Socla, a France-based manufacturer of water protection valves and flow control solutions...
Also under the agreement, Watts will purchase the related water controls business of certain other entities controlled by Danfoss A/S. Watts also has an option to purchase the water controls business of Danfoss in China.
The acquisition is expected to close by the end of April 2011.
David Coghlan, CEO of Watts, said, "This transaction positions Watts as a strong competitor in Europe in three key areas: residential and commercial flow control; HVAC and gas; and drains."