A.O. Smith Corporation, a manufacturer of residential and commercial water heating equipment and treatment products, has completed the purchase of Texas-based Aquasana, Inc., a water filtration manufacturer.
The company acquired Aquasana from private equity firm L. Catterton for $87 million.
Todd Bartee, chief executive officer of Aquasana, said, “We are extremely excited about the benefits of combining with such a compelling partner like A.O. Smith. This combination will enhance Aquasana’s reach to a much broader base of customers and extend our healthy living brand, as well as enhance the positive future prospects for our employees, customers and suppliers.”
A.O. Smith said it expects the acquisition to be neutral to earnings per share in 2016, excluding one-time after-tax purchase accounting charges and professional fees related to the acquisition of approximately $1 million.
Ajita G. Rajendra, chairman and chief executive officer of A.O. Smith, added, “This acquisition fits squarely within our stated strategy to expand our core product offerings to new geographies that present growth opportunities.”
