Watts Water Technologies, Inc. entered into a definitive agreement to acquire Bradley Corporation for approximately $300 million.
August 30, 2023
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Watts Water Technologies, Inc. (NYSE:WTS) entered into a definitive agreement to acquire Bradley Corporation for approximately $300 million on August 30, 2023. The purchase price is subject to customary adjustments. The transaction will be funded through cash on hand and the remainder from Watts?
existing revolving credit facility. Bradley has annual net sales of approximately $200 million. The transaction is subject to customary closing conditions and necessary regulatory approvals and is expected to close in the fourth quarter of 2023.
The transaction is expected to be modestly accretive to Adjusted EPS in 2024. Chicago partner Owen Alexander and Boston partner Stephen Ranere of Latham & Watkins LLP acted as legal advisor to Watts Water Technologies Inc..
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.
WATTS WATER TECHNOLOGIES, INC. 
