Blauvelt, New York-based AERCO International Inc. announced it is being acquired by Watts Water Technologies Inc. The acquisition of AERCO is expected to close before the end of this year.
During Riverside’s ownership period since 2007, AERCO opened a state-of-the-art manufacturing facility and R&D lab, launched an innovative line of tankless water heaters, broadened its boiler product line, and revamped its sales and marketing approach and go-to-market strategy. “It’s been wonderful to work with the Riverside team. They provided resources and support that allowed us to thrive and positioned us for continued success. AERCO is in a very strong position with a bright future.” said AERCO Chief Executive Officer Ervin Cash.
This partnership will allow both companies to offer our customers complete solutions, and allows AERCO even greater opportunities for growth. Together, we create a balanced portfolio of products and services that can be tailored to best serve the evolving needs of our global customers.”
“Acquiring AERCO will allow us to expand our product breadth to the strategically important adjacency of heat and hot water offerings,” said Robert J. Pagano Jr., CEO of Watts Water Technologies. “AERCO is a recognized leader in the fast growing market for high efficiency boilers and hot water heaters, with solid operating margins and attractive opportunities to continue its strong growth. AERCO’s products complement our existing portfolio, strengthening our ability to provide a total solution for our customers. With our existing international footprint, we also anticipate expanding AERCO’s worldwide presence.”
AERCO will continue its current operation out of Blauvelt, N.Y. The consummation of the acquisition is subject to customary closing conditions.
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