Watts Water Technologies Completes AERCO Acquisition

(RTTNews) - Watts Water Technologies, Inc. (WTS) said Monday that it has completed the acquisition of AERCO International, Inc., a portfolio entity of The Riverside Company, in an all-cash deal.

The deal was originally announced on November 6.

AERCO is a manufacturer of a wide range of high-efficiency commercial boilers and water heaters.

Watts paid a total purchase price of about $264.5 million to acquire 100% of the share capital of AERCO. The final purchase price is subject to a customary net working capital adjustment. Watts funded the acquisition with borrowings under its credit facility.