Watts Water Technologies
Completes Acquisition of Apex Valves Limited.
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.
Story continues below
advertisement | your ad here
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
# # #