Watts Water Technologies, Inc. (NYSE: WTS), a global leader in plumbing, heating and water quality products and solutions, announced today that it has agreed to buy Josam Company, a provider and manufacturer of drainage and plumbing products, for $35 million. The deal is expected to close in January 2024.
Josam Company has been in business for over 100 years and serves commercial, industrial, and multi-family end markets with its high-quality customized products.
Watts Water Technologies said that the acquisition will enhance its portfolio, expand its capabilities and solutions, and increase its growth and cross-selling opportunities. Both companies share a commitment to outstanding customer service and a strong company culture.
Robert J. Pagano Jr., CEO of Watts Water Technologies, said that he looks forward to welcoming the Josam team to Watts Water Technologies. Scott Holloway Sr., CEO of Josam Company, said that the acquisition will provide tremendous opportunities for the Josam product lines and that the combination is destined for long-term success.
More information about the transaction will be shared during the Watts fourth quarter earnings call in February 2024.
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