Watts Water Technologies,Inc.( NYSE WTS)( “ Watts ”) – through its accessories, one of the world’s commanding manufacturers and providers of plumbing, heating and water quality products and results – moment blazoned that it has entered into a definitive agreement to acquire Josam Company( “ Josam ”), a leading provider and manufacturer of drainage and plumbing products for over 100 times. The company offers a comprehensive portfolio of high- quality customized products to a different client base serving marketable, artificial, andmulti-family end requests. Josam’s annualized deals are roughly$ 35 million.
Chief Executive Officer RobertJ. PaganoJr. reflected, “ moment’s accession is harmonious with our established strategy and farther positions Watts for growth. The addition of Josam’s innovative, specified products to our portfolio will allow us to offer our guests expanded capabilities and results. We anticipate that the company’s reciprocal deals networks and channel connections will help drive growth and give increasedcross-selling openings. With a commitment to furnishing outstanding client service, Josam is also a strong artistic fit for Watts. We look forward to drinking the Josam platoon to Watts Water Technologies. ”
President and CEO of Josam Company Scott HollowaySr. stated, “ Watts accession of Josam Company will give tremendous openings for the uninterrupted growth of the Josam product lines. The coffers that Watts offers are essential to taking the Josam product lines to the coming position. The parallels in company culture, passion for success and their commitment to advancing the Josam heritage for times to come is a combination that’s fated for long- term success. ”
The sale is subject to customary ending conditions and is anticipated to close in January 2024. fresh information regarding the sale will be bandied during the Watts fourth quarter earnings call in February 2024.
