Watts Water Technologies acquires Danfoss Socla S.A.S
The deal at a glance
Watts Water Technologies acquired Danfoss Socla S.A.S for approximately $165 million in cash, a transaction completed in April 2011, structured as all cash (share and asset purchase; funded with credit facility).
Danfoss Socla S.A.S operates in Europe, is based in France (products distributed worldwide), had revenue of about approximately $135 million 2010 annual revenue (including China water controls business). France-based manufacturer of a wide range of water protection valves and flow control solutions for the plumbing market and for HVAC; products distributed worldwide for municipal, industrial, commercial and residential use; includes the related water controls business of certain other entities controlled by Danfoss A/S. 2010 annual revenue (including water controls business in China) approximately $135 million.
Socla significantly strengthens our European plumbing and flow control platform and also adds to our HVAC platform. This transaction positions Watts as a strong competitor in Europe in three key areas: (i) residential and commercial flow control; (ii) HVAC and gas; and (iii) drains.
No advisory firms have been disclosed for this transaction.