A. O. Smith Corporation acquired Leonard Valve Company (LVC Holdco LLC) for $470 million (approximately $412 million after estimated tax benefits), a transaction completed in January 2026, structured as all cash (cash on hand plus new credit-agreement borrowing).
Leonard Valve Company (LVC Holdco LLC) operates in Water Management / Water Heating, is based in Cranston, Rhode Island, USA. A. O. Smith acquired LVC Holdco LLC (Leonard Valve) of Cranston, Rhode Island, founded in 1911, for $470 million (about $412 million after estimated tax benefits). Leonard Valve designs and manufactures water-temperature control valves and digital and thermostatic mixing systems and, with its Heat-Timer brand of advanced boiler controls, serves hospitals, schools, universities and other institutional and commercial settings. The all-cash transaction was funded with borrowings under a new credit agreement.
Expands A. O. Smith's presence in the water-management market, enhances its digital expertise and broadens its integrated product offering for commercial and institutional customers.
This acquisition expands our presence in the water management market, enhances our digital expertise and broadens our integrated product offering with commercial and institutional customers. We are proud to welcome the Leonard Valve team into the A. O. Smith family.Steve Shafer, Chief Executive Officer, A. O. Smith Corporation
Advisory firms were not disclosed for this transaction.