Watts Water Technologies Inc. Completes Acquisition of Josam Company
02 Enero 2024 - 3:30PM
Business Wire
Watts Water Technologies, Inc., (NYSE: WTS) (“Watts”) – through
its subsidiaries, one of the world’s leading manufacturers and
providers of plumbing, heating and water quality products and
solutions – today announced that it has completed the previously
announced acquisition of Josam Company (“Josam”), a leading
provider and manufacturer of drainage and plumbing products for
over 100 years. The company offers a comprehensive portfolio of
high-quality customized products to a diverse customer base serving
commercial, industrial, and multi-family end markets. Josam’s
annualized sales are approximately $35 million. The acquisition was
funded with cash on hand.
Chief Executive Officer Robert J. Pagano Jr. commented, “We are
excited to welcome the Josam team to Watts. The closing of this
transaction will give our customers access to Josam’s innovative
solutions and will drive growth with increased cross selling
opportunities. I want to thank the teams at Watts and Josam for
their efforts to get us to closing today and helping to ensure a
smooth, effective transition as we integrate Josam with Watts.”
Additional information regarding the transaction will be
discussed during the Watts fourth quarter earnings call in February
2024.
About Watts Water Technologies, Inc.
Watts Water Technologies, Inc., through its family of companies,
is a global manufacturer headquartered in the USA that provides one
of the broadest plumbing, heating, and water quality product lines
in the world. Watts Water companies and brands offer innovative
plumbing, heating, and water quality solutions to control the
efficiency, safety, and quality of water within commercial,
residential, and industrial applications. For more information,
visit www.watts.com.
Forward-Looking Statements
In connection with the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, Watts provides the
following cautionary statement: This news release contains various
forward-looking statements based on current expectations about
important economic, political, and technological factors, among
others, and are subject to risks and uncertainties, which could
cause the actual results or events to differ materially from those
set forth in or implied by the forward-looking statements and
related assumptions. These include statements regarding estimates
of future earnings and cash flows. Other uncertainties include, but
are not limited to, general economic conditions, supply chain
conditions and any related impact on costs and availability of
materials, integration of the acquired business in a timely and
cost-effective manner, retention of supplier and customer
relationships and key employees, and the ability to achieve
synergies and cost savings in the amounts and within the time
frames currently anticipated. Other risks and uncertainties that
may materially affect Watts are described from time to time in its
reports filed with the Securities and Exchange Commission,
including Forms 10-K, 10-Q, and 8-K. Except to the extent required
by law, Watts does not undertake and specifically declines any
obligation to review or update any forward looking statements or to
publicly announce the results of any revisions to any of such
statements to reflect future events or developments or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240102800995/en/
Watts Water Technologies, Inc. Diane McClintock Senior Vice
President FP&A and Investor Relations Telephone: 978-689-6153
investorrelations@wattswater.com
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