secwatch.observer — SEC 8-K summary
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Issuer:     WATTS WATER TECHNOLOGIES INC (WTS)
CIK:        0000795403
Form:       8-K
Filed at:   2023-09-05T23:59:59+00:00
Accession:  0001558370-23-015442
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Watts Water to acquire Bradley Corp for $303M cash; expects Q4 close, modest EPS accretion
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- Purchase price $303M cash; net ~$268M after ~$35M tax benefits; funded via cash on hand and credit facility.
- Bradley has ~$200M annual sales, adds front-of-wall commercial washroom and emergency safety products.
- Expected close Q4 2023, subject to HSR antitrust clearance and customary closing conditions.
- Bradley Chairman & CEO Bryan Mullett to join Watts as President of the Bradley platform.
- Transaction modestly accretive to Adjusted EPS in 2024; accretive EBITDA margins targeted by 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/795403/000155837023015442/0001558370-23-015442-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/795403/000155837023015442/wts-20230830x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-015442

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