Powers designs and manufactures thermostatic mixing valves for personal safety and process control applications in commercial and institutional facilities. Powers also manufactures control valves and commercial plumbing brass products, including shower valves and lavatory faucets. Current annualized sales are approximately $20 million.
The terms of the deal were not disclosed; however, Watts Industries' CEO, Timothy P. Horne, stated in a press release, "We are excited about the acquisition of Powers because of its long history of expertise in mixing water for safety applications. The acquisition of Powers strengthens our product line offering in thermostatic mixing valves, giving us a wide range of products from residential through commercial and large base of engineering and architectural specifications throughout the United States."
Watts, with worldwide sales of approximately $550 million, designs, manufactures and sells an extensive line of valves to the plumbing and heating and water quality markets.