Watts Water Technologies, Inc. completed the acquisition of Josam Company for approximately $100 million.
January 31, 2023
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Watts Water Technologies, Inc. (NYSE:WTS) entered into a definitive agreement to acquire Josam Company on December 11, 2023. Additional information regarding the transaction will be discussed during the Watts fourth quarter earnings call in February 2024. The acquisition was funded with cash on hand. As on December 11, 2023, Josam Company reported a revenue of approximately $35 million for the year ended December 31, 2022. The transaction is subject to customary closing conditions and is expected to close in January, 2024.
Watts Water Technologies, Inc. (NYSE:WTS) completed the acquisition of Josam Company for approximately $100 million on January 1, 2024. The aggregate net purchase price was approximately $98.7 million, net of cash of $4.1 million, and is subject to a final post-closing working capital adjustment.
Watts Water Technologies, Inc. is a supplier of products, solutions and systems that manage and conserve the flow of fluids and energy into, through and out of buildings. The Companyâs product lines include residential and commercial flow control products, such as backflow preventers, water pressure regulators, temperature and pressure relief valves, and leak detection products; heating, ventilation and air conditioning and gas products, which include water heaters and heating solutions, hydronic and electric heating systems for under-floor radiant applications, custom heat and hot water solutions and hydronic pump groups; drainage and water re-use products, which includes drainage and engineered rainwater harvesting solutions for commercial, industrial, marine and residential applications, and water quality products, such as point-of-use and point-of-entry water filtration and scale prevention systems. The Company also offers commercial washroom and emergency safety products.