Watts Water Technologies, Inc. has acquired the FEBCO, Mueller Steam Specialty and POLYJET product lines from SPX Corp. in a stock purchase transaction.
Watts Water Technologies' CEO, Patrick S. O'Keefe, said, "FEBCO is a manufacturer of backflow prevention valves. FEBCO has a strong presence in both residential and commercial landscape irrigation, where we currently have a minor presence. Mueller Steam Specialty is a leading full line supplier of pipeline strainers and check valves. Watts' current product offering of strainers focuses on small diameter strainers for plumbing applications. The inclusion of Mueller Steam Specialties in our product offering allows us to expand into large diameter commercial products. POLYJET offers a customized sleeve valve, which is used in severe service applications to provide precise flow and pressure control. This represents our entry into sleeve valve products.”
O’Keefe continued, “We believe that this transaction will enable Watts to offer a broader product line, improve operating efficiencies and provide better customer service. These three businesses have combined annual revenues of approximately $57 million."