The company offers a comprehensive portfolio of high-quality customized products to a diverse customer base serving commercial, industrial, and multi-family end markets. Josam’s annualized sales are approximately $35 million. The acquisition was funded with cash on hand.
Chief Executive Officer Robert J. Pagano Jr. commented, “We are excited to welcome the Josam team to Watts. The closing of this transaction will give our customers access to Josam’s innovative solutions and will drive growth with increased cross selling opportunities. I want to thank the teams at Watts and Josam for their efforts to get us to closing today and helping to ensure a smooth, effective transition as we integrate Josam with Watts.”
Additional information regarding the transaction will be discussed during the Watts fourth quarter earnings call in February 2024.
Source: Watts Water Technologies, Inc.
