Watts Water Technologies, Inc. (NYSE: WTS) announced today that it
completed the acquisition of 80% of the outstanding shares of Apex
Valves Limited (“Apex”), a New Zealand company, for approximately $22
million, with a commitment to purchase the remaining 20% ownership
within three years of closing. The final purchase price is subject to a
customary net working capital adjustment.
Apex specializes in the design and manufacture of control valves for low
and high pressure hot water and filtration systems. Apex also produces
an extensive range of float and reservoir valves for the agricultural
industry.
Watts Water Technologies, Inc., through its family of companies, is a
global manufacturer headquartered in the USA that provides one of the
broadest plumbing, heating, and water quality product lines in the
world. Watts Water companies and brands offer innovative plumbing,
heating, and water quality solutions for residential, commercial, and
industrial applications. For more information, visit www.wattswater.com.
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