Oatey Co., a leading plumbing company in the U.S., announced today that it has acquired Durgo, a Swedish developer and manufacturer of air admittance valves and other pressure regulating valves. Durgo, founded in 1921, is a well-known brand in the plumbing industry in Europe and Asia, with a reputation for quality and safety. The company…
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Reliance Worldwide faces headwinds in FY24 amid challenging market conditions
SYDNEY, AUSTRALIA: Reliance Worldwide Corporation (RWC), a global leader in plumbing and heating products, has released its guidance for the financial year 2024 (FY24), indicating a decline in revenues and operating margins due to lower demand and cost pressures. RWC said that its exposure to the repair and maintenance sector, which is less cyclical than…
RWC acquires Holman Industries for A$160 million
SYDNEY, AUSTRALIA: Reliance Worldwide Corporation Limited (RWC), a global leader in plumbing solutions, has announced the acquisition of Holman Industries, a leading manufacturer and distributor of plumbing and watering products in Australia, for A$160 million (US$105 million). According to the business announcement, the deal, which reflects a 7.0 times multiple of Holman’s last twelve months…