Brookfield to acquire Reliance Worldwide for $2.8B

Brookfield Asset Management plans a US$2.8 billion all-cash acquisition of Reliance Worldwide Corporation, pending approvals and a shareholder vote.

Rhea-AI Filing Summary

Brookfield Asset Management Ltd. (BAM), through its flagship private equity strategy, has agreed to acquire 100% of Reliance Worldwide Corporation, a global manufacturer of plumbing and heating solutions listed on the ASX. The all-cash proposal is for US$3.38 per share, implying an enterprise value of approximately US$2.8 billion for Reliance. The Reliance board has unanimously recommended the proposal, with shareholders to vote on the agreement. The investment will be funded through the Brookfield Capital Partners strategy and Brookfield Business Corporation. The transaction is subject to customary shareholder, regulatory and government approvals and is expected to close in Q1 2027.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Offer price per Reliance share: US$3.38 per share Enterprise value of Reliance: US$2.8 billion Stake to be acquired: 100% +3 more

6 metrics

Offer price per Reliance share US$3.38 per share All-cash proposal for Reliance Worldwide Corporation

Enterprise value of Reliance US$2.8 billion Approximate enterprise value implied by Brookfield’s proposal

Stake to be acquired 100% Brookfield agreement to acquire all of Reliance Worldwide Corporation

Expected closing period Q1 2027 Targeted closing for the Reliance acquisition, subject to approvals

Assets under management More than US$1 trillion Total assets under management for Brookfield

Global presence Over 50 countries Geographic reach of Brookfield’s operations

Key Terms

enterprise value, push-to-connect, assets under management, forward-looking statements, +1 more

5 terms

enterprise value financial

"The proposal constitutes an enterprise value for Reliance of approximately US$2.8 billion"

Enterprise value is the total worth of a company, reflecting what it would cost to buy the entire business. It includes the company's market value plus any debts, minus its cash holdings, offering a comprehensive picture of its true value. Investors use it to compare companies regardless of their capital structures, helping them assess how much they would need to pay to acquire the business.

push-to-connect technical

"The market leader in push-to-connect (“PTC”) fittings for plumbing systems"

A push-to-connect is a type of quick coupling used to join tubes, hoses, or cables by simply pushing them into a specially designed fitting that locks in place without tools. Like snapping a Lego piece on, it speeds assembly and service, reduces leak and error risk, and can lower labor and downtime in manufacturing or equipment maintenance. Investors care because widespread use or improvement of this component can affect production costs, reliability, and product competitiveness.

assets under management financial

"with more than $1 trillion in assets under management"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

forward-looking statements regulatory

"This press release contains “forward-looking statements” within the meaning of"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What acquisition did Brookfield Asset Management (BAM) announce in this 8-K?

Brookfield Asset Management announced that its private equity strategy has entered into an agreement to acquire 100% of Reliance Worldwide Corporation, a global plumbing and heating solutions manufacturer listed on the ASX, through an all-cash proposal subject to shareholder and regulatory approvals.

What is the purchase price and enterprise value in Brookfield Asset Management’s (BAM) deal for Reliance?

The proposal values Reliance at US$3.38 per share in cash, representing an enterprise value of approximately US$2.8 billion. These figures reflect the total value Brookfield’s private equity strategy is proposing to pay to acquire 100% of Reliance Worldwide Corporation.

How will Brookfield Asset Management (BAM) fund the Reliance acquisition?

Brookfield states that the investment in Reliance will be funded through the Brookfield Capital Partners strategy and its affiliate Brookfield Business Corporation (NYSE: BBUC, TSX: BBUC), reflecting use of its flagship private equity capital and a listed affiliate.

When is Brookfield Asset Management (BAM) expecting to close the Reliance acquisition?

Brookfield expects the acquisition of Reliance Worldwide Corporation to close in Q1 2027, subject to customary closing conditions, including shareholder approval, regulatory approvals and government approvals described in the announcement.

What rationale did Brookfield give for acquiring Reliance Worldwide Corporation?

Brookfield highlighted Reliance as a global, market-leading industrial company with strong brands, durable customer relationships and opportunities to create value through operational investment and product expansion, supported by industry tailwinds such as recurring replacement needs in aging housing stocks.

How large is Brookfield Asset Management (BAM) as described in the filing?

Brookfield is described as a leading global investment firm with more than US$1 trillion in assets under management and a presence in over 50 countries, investing across infrastructure, energy, private equity, real estate and credit.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  September 15, 2026

_______________________________

Brookfield Asset Management Ltd.

(Exact name of registrant as specified in its charter)

_______________________________

British Columbia, Canada	001-41563	98-1702516
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

225 Liberty Street, 8th Floor

New York, New York 10281-1048

(Address of Principal Executive Offices) (Zip Code)

(212) 417-7000

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Limited Voting Shares	BAM	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

On September 15, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Press Release dated September 15, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Brookfield Asset Management Ltd.
Date: September 15, 2026	By:	/s/ Kathy Sarpash
		Kathy Sarpash
		Managing Director, Legal & Regulatory and Corporate Secretary

EXHIBIT 99.1

Brookfield Agrees to Acquire Reliance Worldwide Corporation

The transaction will support Reliance’s next phase of growth as a global leader in plumbing products and solutions

NEW YORK and SYDNEY, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Brookfield, through its flagship private equity strategy, today announced that it has entered into an agreement to acquire 100% of global manufacturer of plumbing and heating solutions Reliance Worldwide Corporation (“Reliance”) (ASX: RWC).

The Reliance Board has unanimously recommended the all-cash proposal of US$3.38 per share to shareholders, who will vote on the agreement. The proposal constitutes an enterprise value for Reliance of approximately US$2.8 billion.

Reliance is headquartered in the US, with operations across the Americas, Europe and the Middle East (EMEA), and Asia Pacific.

Anuj Ranjan, CEO of Brookfield’s Private Equity group, said:

“Reliance is the type of business we look for - a global, market-leading industrial company with strong brands, durable customer relationships and clear opportunities to create value through investment in operations and continued product expansion. Brookfield’s global operating expertise in industrials and the US housing ecosystem positions us well to support Reliance in its next phase of growth and over the long term.”

Investment Highlights

• Market leader: The market leader in push-to-connect (“PTC”) fittings for plumbing systems, with category-defining brands across the Americas, EMEA and APAC. The PTC segment remains underpenetrated relative to traditional joining methods.
• Adjacent products: Proven model to expand non-PTC products to existing customers, supported by strong position with major retailers and the wholesale channel.
• Industry tailwinds: Resilient cashflows underpinned by recurring replacement needs in aging housing stocks. A new generation of trades professionals are more receptive to the core PTC products, which increases a long-term demand tailwind.
  

Transaction Details

Brookfield’s investment will be funded through the Brookfield Capital Partners strategy and its affiliate Brookfield Business Corporation (NYSE: BBUC, TSX: BBUC).

The transaction remains subject to customary closing conditions including shareholder, regulatory and government approvals. Subject to the necessary approvals, the transaction is expected to close in Q1 2027.

About Brookfield

Brookfield is a leading global investment firm, headquartered in New York, with more than $1 trillion in assets under management. The firm owns and operates high-quality businesses and real assets that provide essential services and form the backbone of the global economy. Brookfield invests on behalf of institutions and individuals around the world across infrastructure, energy, private equity, real estate, and credit. With more than a century of operating experience and a global presence in over 50 countries, Brookfield deploys long-term capital to generate sustainable value for its clients and shareholders. Brookfield Corporation (NYSE: BN, TSX: BN) and Brookfield Asset Management (NYSE: BAM, TSX: BAM) are publicly traded in New York and Toronto.

For more information, please visit our website at www.brookfield.com.

Brookfield Media:

Catherine Woods
Tel: +61 477 320 333
Email: catherine.woods@brookfield.com

Simon Maine
Tel: +1 332 298 0447
Email: simon.maine@brookfield.com Brookfield Investor Relations:

Alan Fleming (BBUC)
Tel: +1 416 645 2736
Email: alan.fleming@brookfield.com

Jason Fooks (BAM)
Tel: +1 212 417 2442
Email: jason.fooks@brookfield.com

Notice to Readers

This press release contains “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect our current views with respect to, among other things, our operations and financial performance (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this press release include statements referring to the impact of the acquisition on Reliance.

Although Brookfield believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in the United States and Canada, not presently known to Brookfield or that that Brookfield currently believes are not material, could cause actual results or events to differ materially from those contemplated or implied by forward-looking statements.

Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to Brookfield as of the date of this press release. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 PRESS RELEASE 8.1 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 3.3 KB
• EX-101 XBRL DEFINITION FILE 25.5 KB
• EX-101 XBRL LABEL FILE 35.1 KB
• EX-101 XBRL PRESENTATION FILE 24.1 KB