Watts Water Technologies, a leading global manufacturer and provider of plumbing, heating, and water-quality solutions, today announced that through its subsidiaries, it has completed the acquisition of Superior Boiler, a designer and manufacturer of customized steam and hot water boilers and related ancillary equipment used in commercial, institutional, and industrial settings.
Superior brings to Watts a comprehensive portfolio of fire-tube, water-tube, and condensing boilers, with annualized sales of approximately $60 million. The acquisition was funded with cash on hand. The integration of Superior’s offerings will extend Watts’ capabilities in mission-critical heating and hot-water solutions, reinforcing the company’s growth strategy and expanding cross-selling opportunities across its broad plumbing, heating, and water-quality product lines.
Robert J. Pagano Jr., Chief Executive Officer of Watts, commented that the acquisition aligns with the company’s disciplined M&A strategy and enhances its ability to offer expanded capabilities to customers while leveraging complementary sales networks. He noted that Superior is a strong cultural fit for Watts, given its commitment to quality and customer service.
Watts, based in North Andover, Massachusetts, operates through a family of companies that provide one of the broadest plumbing, heating and water-quality product lines in the world. Its solutions span commercial, residential and industrial applications for controlling the efficiency, safety and quality of water.
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“We are thrilled to welcome the Superior team to Watts. This acquisition is consistent with our disciplined M&A strategy and further positions Watts for growth. Superior’s customized, mission critical heating and hot water solutions enable us to offer expanded capabilities to our customers. We expect that the company’s complementary sales network will help drive growth and provide increased cross-selling opportunities. With a commitment to providing outstanding quality and customer service, Superior is a strong cultural fit for Watts. I want to thank the teams at Watts and Superior for their efforts in completing this acquisition. We look forward to a smooth transition as we integrate Superior into the Watts family of brands.”
Robert J. Pagano Jr., Chief Executive Officer, Watts Water Technologies, Inc.
“Watts’ acquisition of Superior will provide tremendous opportunities and resources to support our growth in Hutchinson, Kansas and the continued adoption of Superior’s solutions. The similarities in company culture, shared focus on innovation and commitment to advancing the Superior legacy for years to come is a formula we anticipate will drive our joint long-term success.”
Doug Wright, Chief Executive Officer, Superior Boiler
