Watts Water Technologies acquires tekmar Control Systems

Watts Water Technologies acquired tekmar Control Systems for CAD $18.0 million initial purchase price (approximately $17.8 million at the January 31, 2012 exchange rate); total purchase price not to exceed CAD $26.2 million, a transaction completed in January 2012, structured as all cash (share purchase).

tekmar Control Systems operates in Americas. tekmar is a North American designer and maker of hydronic heating and control systems, a field the brand has helped pioneer for more than four decades. Its lineup spans boiler and mixing controls, setpoint controls for pool and domestic hot water, zoning controls, thermostats, snow-melting controls, and the related sensors and accessories. tekmar now operates as one of the Watts family of brands, extending Watts' reach in HVAC and hot-water control solutions.

The acquisition is expected to enhance Watts' hydronic systems product offerings in the U.S. and Canada.

Advisory firms were not disclosed for this transaction.

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