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Jan. 30, 2012: Watts Water Technologies to Acquire tekmar Control Systems

January 30, 2012
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NORTH ANDOVER, Mass. — Watts Water Technologies Inc. has announced the signing of a definitive agreement to acquire tekmar Control Systems in a share purchase transaction. The acquisition is subject to customary closing conditions.

Watts Water Technologies’ president of North America, Srinivas K. Bagepalli, said, “tekmar is a designer and manufacturer of proprietary control solutions for heating, ventilating, and air conditioning applications. Its products are designed to add value to any building by improving the efficiency, reliability, comfort, and quality of indoor living. tekmar has pioneered technologies that advance the capabilities of HVAC systems and provides superior customer support and training.”

Bagepalli continued, “We are very pleased with the anticipated acquisition of tekmar. tekmar provides energy saving control solutions for a wide range of hydronic (water based) systems which we believe will complement our existing product offering.”

tekmar Control Systems had annual revenues in 2011 of approximately $11 million. The company is located in Vernon, British Columbia, Canada.

Watts Water Technologies Inc. is a leader in the manufacture of products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications.

For more information, visit www.wattswater.com.

Publication date: 01/30/2012

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