A.O. Smith to Close on State Industries Acquisition by Year-End
A.O. Smith Corp. announced it has received notice that the U.S. Dept. of Justice does not intend to challenge or modify A.O. Smith's proposed acquisition of State Industries. This notice follows a three-month review by the department's Antitrust Division as part of the pre-merger notification provision of the Hart-Scott-Rodino Act.
A.O. Smith expects to close the purchase of the Tennessee-based manufacturer of residential and commercial water heaters by year-end.
The acquisition will increase the scope and market penetration of A.O. Smith's residential water heating business. State Industries serves the retail, wholesale, home construction, and manufactured home market channels, complementing A.O. Smith's wholesale-only residential business. The addition of State's commercial water heating line will expand further A.O. Smith's standard and specialty commercial product line. A.O. Smith is a leading North American manufacturer of commercial water heating equipment.