Watts Water Technologies Inc. Completes Acquisition of Superior Boiler

NORTH ANDOVER, Mass.--(BUSINESS WIRE)-- Watts Water Technologies, Inc., (NYSE: WTS) (“Watts”) – through its subsidiaries, one of the world’s leading manufacturers and providers of plumbing, heating and water quality products and solutions – today announced that it has completed the acquisition of Superior Boiler (“Superior”), an industry leading designer and manufacturer of customized steam and hot water boilers and related ancillary equipment used in commercial, institutional and industrial applications. Superior offers a comprehensive portfolio that includes firetube, watertube and condensing boilers and has annualized sales of approximately $60 million. The acquisition was funded with cash on hand.

Chief Executive Officer Robert J. Pagano Jr. commented, “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.”

Chief Executive Officer of Superior, Doug Wright stated, “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.”

Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating, and water quality product lines in the world. Watts Water companies and brands offer innovative plumbing, heating, and water quality solutions to control the efficiency, safety, and quality of water within commercial, residential, and industrial applications. For more information visit www.watts.com.

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Watts Water Technologies, Inc.

Diane McClintock

Senior Vice President FP&A and Investor Relations

Telephone: 978-689-6153

Email: investorrelations@wattswater.com

Source: Watts Water Technologies, Inc