Mueller Water Products to acquire Singer Valve for C$34m
Mueller Water Products has signed a definitive agreement to acquire Singer Valve, a manufacturer of automatic control valves, for C$34 million (€24.2m) in cash.
Singer Valve designs and manufactures automatic control valves, offering engineered products for pressure management within waterworks, while also providing similar valves for industrial, commercial, and fire protection applications.
The company was founded in 1957 and is headquartered in Surrey, British Columbia, with manufacturing operations in Surrey; Charlotte, North Carolina; and Taicang, China.
Singer had net sales of approximately C$20 million in 2016.
The transaction is subject to customary closing conditions and is expected to close during Mueller’s fiscal second quarter of 2017.
Once the transaction has closed, Singer Valve will become part of Mueller Water Products’ Mueller Co. operating segment.
Mueller Co.’s products enable utilities to regulate the flow of water as it is transmitted from the source to customers, and its valves or hydrants are specified in the 100 largest metropolitan areas in the US.
This specification position, coupled with Mueller Co.’s extensive North American distribution network, is a key part of the growth strategy for Singer Valve.
The acquisition further positions Mueller Water Products to provide product offerings for pressure monitoring, pressure management and non-revenue water remediation with a combination of automatic control valves, pipe condition assessment, and leak detection.
“We are focused on providing innovative products that help water utilities operate as efficiently as possible and enable them to continue delivering safe, clean drinking water to their customers,” said Greg Rogowski, president at Mueller Co.
“The addition of Singer Valve broadens our portfolio of products and enhances the value we offer our customers, especially in the areas of managing pressure and extending the life of water assets.”