Watts Water Technologies, a frontrunner in plumbing, heating, and water quality products and solutions, has announced a definitive agreement to acquire Bradley Corporation, a distinguished provider of commercial washroom and emergency safety products.
The acquisition, valued at $303 million, signifies a strategic step towards expanding Watts’ market influence and product offerings.
Bradley Corporation has made a mark in the industry by serving commercial and industrial markets with a comprehensive range of plumbing fixtures, washroom accessories, and emergency safety products. The impending acquisition reflects Watts’ strategic intent to strengthen its position as a leader in the realm of water solutions, with Bradley’s offerings complementing its existing portfolio.
The acquisition is projected to bring forth substantial strategic and financial benefits for both companies. The synergy is expected to leverage Watts’ One Watts Performance System and connected strategy, driving cost efficiencies and enhancing competitiveness. Furthermore, the deal aims to capitalize on the growing trends of water conservation, safety and regulation, and energy efficiency, positioning both entities at the forefront of these evolving demands.
Robert J. Pagano Jr., CEO of Watts, highlighted the significance of the acquisition in the context of their mission to improve the quality of life through enhanced comfort and safety. The move to integrate Bradley’s offerings into Watts’ suite of solutions is seen as a move towards achieving this goal while expanding end-market exposure and boosting growth potential.
The transaction’s strategic value extends to management leadership as well. Bryan Mullett, Bradley’s Chairman and CEO, will join Watts as President of Bradley, driving the growth trajectory and integration of the two companies. Mullett expressed enthusiasm over the collaboration, foreseeing substantial value creation by combining their innovative solutions with Watts’ global reach.
The deal is set to enhance Watts’ competitive edge by amalgamating two stalwart brand portfolios, fortified by their enduring legacies of product excellence and customer-centric service. With the transaction anticipated to close in the fourth quarter of 2023, the stage is set for a fruitful collaboration that could reshape the water solutions landscape for the better. Further details about the acquisition will be shared during Watts’ third-quarter earnings call in November 2023.
Watts Water Technologies, Inc., through its network of companies, is committed to providing innovative solutions that impact the quality, safety, and efficiency of water across various applications. The impending acquisition of Bradley Corporation signifies Watts’ unwavering commitment to advancing its mission while broadening its product offerings and market footprint.
