Watts Water Technologies Inc. to Acquire Bradley Corporation

05.09.2023 -

Watts Water Technologies, Inc. announced that it has entered into a definitive agreement to acquire Bradley Corporation (“Bradley”) for $303 million, subject to customary adjustments. The net transaction value is approximately $268 million after adjusting for the estimated net present value of expected tax benefits of approximately $35 million. The transaction will be funded through cash on hand and the remainder from Watts’ existing revolving credit facility. The transaction is subject to customary closing conditions and necessary regulatory approvals and is expected to close in the fourth quarter of 2023.