Bradford White To Purchase Laars Heating Systems

AMBLER, Pa. - As part of a strategic plan that includes diversification within the industry, Bradford White Corp. signed an agreement to purchase the Laars Heating Systems business from Water Pik Technologies Inc. Closing is scheduled for June 30.

"The acquisition is one in a series of focused moves we have made in recent years to continue growth and expand our appeal to the plumbing and HVAC industry," said A. Robert Carnevale, president and chief executive officer of Bradford White.

The acquisition includes a manufacturing facility in Rochester, N.H., and a distribution center in Oakville, Ontario. Bradford White will also open a new Laars Heating Systems sales office and distribution center in the Simi Valley area in California.

"We are pleased that we have been able to reach this mutually beneficial agreement with Bradford White," said Water Pik Technologies' chief executive officer Michael Hoopis. "The divestiture of our heating systems business will allow us to further focus our resources on our two remaining business segments."

Publication date: 06/20/2005

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