June 1, 2005
NORTH ANDOVER, Mass. -- Watts Water Technologies, Inc. (NYSE symbol "WTS") announced today that it has acquired the water softener business of Alamo Water Refiners, Inc. in an asset purchase transaction.
Annual revenue of Alamo's water softener business is approximately $13 million.
Watts Water Technologies' Chief Executive Officer, Patrick S. O'Keefe, commented, "The acquisition of the water softener business of Alamo Water Refiners represents our expansion in the water softening market. The products of Alamo are consistent with our theme of water quality and provide many synergistic opportunities when utilized in conjunction with our existing water filtration and water quality businesses. The acquisition of Alamo also expands our distribution presence into the southwestern markets. The combination of Alamo's softening line and Watts' existing water purification product line allows Watts to provide a comprehensive offering of water purification and filtration products."
Watts Water Technologies, Inc. is a world leader in the manufacture of innovative products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications. Its expertise in a wide variety of water technologies enables it to be a comprehensive supplier to the water industry.
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