Watts Water Technologies acquires Bradley Corporation (Bradley Company, LLC)
Snapshot
Watts Water Technologies acquired Bradley Corporation (Bradley Company, LLC) for $303 million (announced; approximately $301.2 million net purchase price at close, net of cash acquired of $9.2 million; net transaction value approximately $268 million after expected tax benefits) in October 2023. The transaction was structured as cash on hand plus borrowings under existing revolving credit facility ($210.0 million financed). Bradley Corporation (Bradley Company, LLC) is a Americas business.
- Acquirer
- Watts Water Technologies
- Target
- Bradley Corporation (Bradley Company, LLC)
- Value
- $303 million (announced; approximately $301.2 million net purchase price at close, net of cash acquired of $9.2 million; net transaction value approximately $268 million after expected tax benefits)
- Date
- October 2023
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
Watts Water Technologies acquired Bradley Corporation (Bradley Company, LLC) for $303 million (announced; approximately $301.2 million net purchase price at close, net of cash acquired of $9.2 million; net transaction value approximately $268 million after expected tax benefits), a transaction completed in October 2023, structured as cash on hand plus borrowings under existing revolving credit facility ($210.0 million financed).
Bradley Corporation (Bradley Company, LLC) operates in Americas, had revenue of about approximately $200 million annual net sales. Manufacturer of plumbing fixtures, washroom accessories and emergency safety products serving commercial (primarily institutional) and industrial end markets; annual net sales of approximately $200 million.
Enhances diversification of water solutions portfolio through a complementary strategic platform; increases exposure to commercial (primarily institutional) and industrial end markets; supports value creation through greater scale and meaningful run-rate cost synergies.
meaningful run-rate cost synergies; cross-selling across combined sales networks and channel relationships Diane McClintock, IR: the company benefited from incremental sales due to the acquisitions of Enware, Bradley, and Josam, and was very pleased with the performance of these new acquisitions, expecting them to continue contributing to long-term success.
No advisory firms have been disclosed for this transaction.