NORTH ANDOVER, Mass.--Watts Water Technologies, Inc. (NYSE: WTS) announced today that it completed the acquisition of 80% of the outstanding shares of Apex Valves Limited (“Apex”), a New Zealand company, for approximately $22 million, with a commitment to purchase the remaining 20% ownership within three years of closing. The final purchase price is subject to a customary net working capital adjustment.
Apex specializes in the design and manufacture of control valves for low and high pressure hot water and filtration systems. Apex also produces an extensive range of float and reservoir valves for the agricultural industry.
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 for residential, commercial, and industrial applications. For more information, visit www.wattswater.com.