Watts Water Technologies acquired Josam Company (Josam Industries, LLC) for Approximately $99.0 million (final net purchase price, net of cash acquired of $4.6 million), a transaction completed in January 2024, structured as all cash (share purchase, cash on hand).
Josam Company (Josam Industries, LLC) operates in Americas. Manufacturer of commercial drainage products; converted into Josam Industries, LLC and acquired in a share purchase transaction effective January 1, 2024.
Diane McClintock, IR: organic sales growth in the quarter was largely driven by extra shipping days; the company also benefited from incremental sales due to the acquisitions of Enware, Bradley, and Josam, and was very pleased with their performance.
Advisory firms were not disclosed for this transaction.