Watts Water Technologies, Inc. acquires I-CON Systems

Watts Water Technologies, Inc.  (“Watts”) – through its subsidiaries, one of the world’s leading manufacturers and providers of plumbing, heating and water quality products and solutions –  has announced that it has acquired I-CON Systems Inc.  (“I-CON”), a leading provider of plumbing control solutions primarily for the corrections market. I-CON’s annualized sales are approximately $25 million. The acquisition was funded with cash on hand.

Chief Executive Officer Robert J. Pagano Jr. commented, “We are excited to welcome the I-CON team to Watts. This acquisition is consistent with our established strategy and further positions Watts for growth. The addition of I-CON’s innovative water management systems will allow us to expand our digital offerings and provide growth opportunities in the correctional niche of the institutional market. I want to thank the teams at Watts and I-CON for their efforts to get us to closing today and helping to ensure a smooth, effective transition as we integrate I-CON with Watts.”

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Taxonomy

• Technology
• System Integration
• Water Systems Monitoring
• Water Supply System
• Water Treatment Systems
• Water System Modeling