Reliance Worldwide Corporation (RWC) has agreed to acquire John Guest Holdings Limited for £687.5 million.
Reliance is a leading global manufacturer and supplier of premium-branded engineered water delivery, control and optimisation products and solutions for the residential and commercial markets.
The move is seen as a strong strategic fit and alignment with Reliance’s strategy to add complementary products and expand its market presence, particularly in terms of complementing RWC’s range of Sharkbite brass push-to-connect plumbing fittings with John Guest Holdings’ popular Speedfit range of plastic push-fit fitting technology.
Heath Sharp, RWC Chief Executive Officer, commented, “We are excited about the opportunities to join these two great companies. We have previously noted our intention to scale the Reliance business via additional manufacturing and distribution capabilities in the UK and continental Europe. John Guest clearly provides that and more.
“Like Reliance, the people of John Guest are executing at a very high level, underpinned by a great culture and values closely aligned with our own.
“John Guest comes with a long history of innovation and industry-leading execution. They have created strong, well-respected brands that are highly regarded in their key markets globally. We believe that John Guest products can be successfully leveraged through our well established North American and Asia Pacific channel network.
“Correspondingly, we also have a great opportunity to sell Reliance products, including some fantastic products and our recent Holdrite acquisition, through John Guest distribution channels in the UK and Europe and to further develop its European operations.”
Completion of the acquisition is expected to occur in June 2018.