Watts Water Technologies, Inc. (NYSE: WTS) announced today that it
completed the acquisition of AERCO International, Inc. (“AERCO”), a
portfolio entity of The Riverside Company, in an all-cash transaction.
AERCO is a leading manufacturer of a wide range of high-efficiency
commercial boilers and water heaters.
Watts paid a total purchase price of approximately $264.5 million to
acquire 100% of the share capital of AERCO. The final purchase price is
subject to a customary net working capital adjustment. Watts funded the
acquisition with borrowings under its credit facility.
Watts Water Technologies, Inc., through its subsidiaries, is a world
leader 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 Watts to be a comprehensive supplier to the
water industry.
Copyright Business Wire 2014