Watts Water Technologies Acquires PVI Industries

(RTTNews) - Watts Water Technologies, Inc. (WTS) announced it acquired PVI Industries, LLC, a manufacturer of commercial water heating equipment, for approximately $78 million. PVI's water heater product offering complements AERCO's boiler products, allowing Watts to comprehensively address the company's commercial customers' heating and hot water requirements. PVI annual sales were approximate $50 million.

CEO Robert Pagano Jr., said: "We are excited about adding PVI to our portfolio. PVI is a market leader in high capacity commercial water heaters and complements AERCO's position in high efficiency boilers. Like AERCO, PVI is focused on differentiated product design for project specific customer applications."