Watts Water Technologies to acquire tekmar Control Systems
Watts Water Technologies has agreed to acquire Vernon, British Columbia, Canada-based tekmar Control Systems in a share purchase transaction. tekmar Control Systems had annual revenues in 2011 of approximately $11 million. The acquisition of tekmar is expected to close by the end of this month.
Watts Water Technologies’ President of North America, Srinivas K. Bagepalli, commented, “tekmar is a designer and manufacturer of proprietary control solutions for heating, ventilating and air-conditioning applications.
“We are very pleased with the anticipated acquisition of tekmar. tekmar provides energy saving control solutions for a wide range of hydronic (water based) systems which we believe will complement our existing product offering.”
Source: Watts Water Technologies