Watts Water Technologies Completes Acquisition of Danfoss Socla
May 1, 2011
Watts Water Technologies Inc., manufacturer of products to control the efficiency, safety and quality of water within residential, commercial and institutional applications, recently announced that it completed the acquisition of Danfoss Socla S.A.S. and the related water controls business of certain other entities controlled by Danfoss A/S, in a share and asset purchase transaction. As part of the acquisition, Watts elected to exercise its option to purchase the water controls business of Danfoss in China. Watts paid a total purchase price of approximately $175.7 million for Socla and the related water controls business assets; the final purchase price is subject to a net debt and net working capital adjustment.