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.
Dean P. Freeman, 978-688-1811
Executive Vice President and Chief Financial Officer
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