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Watts Acquires Premier, Fimet

January 25, 2002
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NORTH ANDOVER, MA — Watts Industries, Inc., has announced the acquisition of Premier Manufactured Systems, Inc., located in Phoenix, AZ. Premier manufactures water filtration systems for both residential and commercial applications, as well as under-the-counter ultraviolet filtration technology.

“This is our first entry into the water filtration market, which we feel is a natural extension to our Water Quality theme, including our leading line of backflow prevention valves to protect the potable water system from the hazards of downstream contamination,” said Timothy O. Horne, chairman and chief executive officer for Watts Industries.

The manufacturer has also acquired Fimet S.r.l., based in Milan, Italy, and Fimet’s wholly-owned subsidiary, MTB AD, which is located in Bulgaria.

Horne says that Fimet is a leading European manufacturer of pressure and temperature gauges for use in the hvac market export sales.

“This acquisition will enable Watts Industries Europe to further expand its product portfolio and customer base as Fimet brings new products to promote through our existing sales network and many oem customers to whom we can introduce other Watts products and services,” said Horne.

Publication date: 01/28/2002

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