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Watts Water announces completion of acquisition of AERCO International
Today, Watts Water Technologies, Inc., a global provider of plumbing, heating and water quality solutions, officially announced that it has completed the acquisition of AERCO International, Inc., a manufacturer of high-efficiency commercial boilers and water heaters.
In an all-cash transaction, Watts paid a total purchase price of approximately $264.5 million to acquire 100 percent of the share capital of AERCO, which is a portfolio entity of The Riverside Company.
The final purchase price is subject to a customary net working capital adjustment. Watts funded the acquisition with borrowings under its credit facility.
[Ãâó = Water World / 2014³â 12¿ù 1ÀÏ]
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