Watts Water Technologies Continues Acquisitions
July 1, 2006
Watts Water Technologies Inc. announced it has acquired the following companies:
French valve, fitting and manifold heating manufacturer ATS Expansion Group in a stock purchase transaction. The aggregate price paid by Watts was 60 million euros (approx. $75 million US). ATS markets its products under the well-known brands of Gripp, Porquet and Sirius, and posts annual revenue of 40 million euros (approx $50 million US). California-based water connector manufacturer Calflex Mfg. Inc. in an asset purchase transaction. Calflex has additional production facilities in China and has approximately $7 million in annual revenue. Sweden's Kim Olofsson Safe Corp. AB (KimSafe) in a stock purchase. KimSafe manufactures electronic controls for heat pump, solar and pellet heater applications. It has approximately $7 million in annual revenue.