Brookfield has agreed to acquire 100% of Reliance Worldwide Corporation, a global manufacturer of plumbing and heating products, in an all-cash transaction valuing the company at approximately $2.8 billion on an enterprise value basis.
The Reliance board unanimously recommended Brookfield’s proposal of $3.38 per share to shareholders, who will vote on the transaction.
Reliance is headquartered in the U.S. and operates across the Americas, Europe, the Middle East and Asia-Pacific. It is a major provider of push-to-connect fittings used in plumbing systems and owns established brands across its primary geographic markets.
Brookfield sees additional growth potential as push-to-connect fittings continue gaining adoption relative to traditional pipe-joining methods.
Reliance has also expanded adjacent products through its existing customer base, including major retailers and wholesale distribution channels. Brookfield pointed to recurring replacement requirements in aging housing stock as another long-term source of demand.
The acquisition fits Brookfield’s private equity strategy of investing in established industrial companies where operational investment and product expansion can create additional value.
Brookfield also has experience across the U.S. housing ecosystem, which the firm believes can support Reliance’s next stage of development.
The investment will be funded through Brookfield Capital Partners and affiliate Brookfield Business Corporation.
The transaction remains subject to Reliance shareholder approval as well as customary regulatory and government approvals. Closing is expected during the first quarter of 2027 if the necessary conditions are satisfied.
Brookfield manages more than $1 trillion in assets across private equity, infrastructure, real estate, energy and credit and operates in more than 50 countries.
KEY QUOTES:
“Reliance is the type of business we look for – a global, market-leading industrial company with strong brands, durable customer relationships and clear opportunities to create value through investment in operations and continued product expansion.”
Anuj Ranjan, CEO of Brookfield’s Private Equity Group
