Watts Water announces completion of acquisition of AERCO International
Watts Water Technologies officially announced that it has completed the acquisition of AERCO International in an all-cash transaction.
NORTH ANDOVER, MA, Dec. 1, 2014
Today, Watts Water Technologies, Inc., a global provider of plumbing, heating and water quality solutions, officially announced that it has completed the acquisition of AERCO International, Inc., a manufacturer of high-efficiency commercial boilers and water heaters.
In an all-cash transaction, Watts paid a total purchase price of approximately $264.5 million to acquire 100 percent of the share capital of AERCO, which is a portfolio entity of The Riverside Company.
The final purchase price is subject to a customary net working capital adjustment. Watts funded the acquisition with borrowings under its credit facility.
About Watts Water Technologies
Watts Water Technologies, Inc., through its subsidiaries, is a specialist in the manufacture of innovative products to control the efficiency, safety and quality of water within residential, commercial and institutional applications. Watts' expertise in a wide variety of water technologies enables it to be a comprehensive supplier to the water industry. For more information, visit www.wattswater.com.