Watts Water Technologies has agreed to acquire Vernon, British Columbia, Canada-based tekmar Control Systems in a share purchase transaction.
Watts Water Technologieshas agreed to acquire Vernon,
British Columbia, Canada-basedtekmar
Control Systemsin 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