Watts Water Technologies Announces Acquisitions
Watts Water Technologies made a series of significant acquisitions, both domestically and overseas, in November and December. The company signed a definitive agreement to acquire flexible stainless steel gas connector manufacturer Dormont Manufacturing Co., located in Export, PA, in a stock purchase transaction. The company also announced that it acquired the FEBCO, Mueller Steam Specialty and POLYJET product lines from SPX Corp. These three businesses have combined annual revenues of approximately $57 million. In addition, the Canadian subsidiary, Watts Industries (Canada) Inc., has acquired Flexflow Tubing LLP, located in Langley, B.C., Canada, in an asset purchase transaction. Watts Water Technologies also announced the signing of a definitive agreement to acquire the assets and business of Changsha Valve Works located in Changsha, China.