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Watts Water Technologies, Inc. Announces Sale of Flomatic Corporation to Boshart Industries, Inc.
NORTH ANDOVER, Mass.--(BUSINESS WIRE)--Dec. 21, 2012--
Watts Water Technologies, Inc. announced today that it has completed the
sale of all of the outstanding shares of its subsidiary, Flomatic
Corporation, to Boshart Industries Inc. in a cash transaction. The sale
excludes the backflow product line of Flomatic, which has been retained
by Watts Water. Watts Water acquired Flomatic as part of its acquisition
of Danfoss Socla S.A.S. and certain related businesses in April 2011.
The transaction will not have a material impact on Watts Water’s results
of operations.
Flomatic Corporation, located in Glens Falls, New York, specializes in
manufacturing and selling check valves, foot valves and automatic
hydraulic control valves for the well water industry.
Boshart Industries, founded in 1955, is a manufacturer and master
distributor serving the North American plumbing, water well, sump and
sewage, irrigation, industrial, and pool and spa wholesale markets.
Boshart has locations in Milverton, Ontario, Canada and Sacramento,
California.
Watts Water Technologies, Inc., through its subsidiaries, is a world
leader in the manufacture of innovative products to control the
efficiency, safety and quality of water within residential, commercial
and institutional applications. Watts expertise in a wide variety of
water technologies enables Watts to be a comprehensive supplier to the
water industry.
Source: Watts Water Technologies, Inc.
Watts Water Technologies, Inc.
Dean P. Freeman, 978-688-1811
Executive
Vice President and Chief Financial Officer
Fax: 978-688-2976
