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.