Plumbing, heating and water quality product manufacturer Watts Water Technologies is expected to acquire drainage and plumbing product manufacturer Josam Company in January 2024.
Josam serves the commercial, industrial, and multi-family end markets and its annualized sales are approximately $35 million.
“Today’s acquisition is consistent with our established strategy and further positions Watts for growth,” Watts Water CEO Robert Pagano Jr. said in a Dec. 11 news release. “The addition of Josam’s innovative, specified products to our portfolio will allow us to offer our customers expanded capabilities and solutions. We expect that the company’s complementary sales networks and channel relationships will help drive growth and provide increased cross-selling opportunities.”
Terms were not disclosed for the transaction, which is expected to close in January. Additional information regarding the transaction will be discussed during the Watts fourth quarter earnings call in February.
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