Brookfield Asset Management announced it has entered into an agreement to acquire 100% of Reliance Worldwide Corporation (ASX: RWC), a global manufacturer of plumbing and heating solutions. The all-cash transaction has an enterprise value of approximately US$2.8 billion and is being made through Brookfield's flagship private equity strategy.
Key Details
- Transaction Value: The proposal is an all-cash offer of US$3.38 per share, valuing Reliance at an enterprise value of approximately US$2.8 billion.
- Approvals & Timeline: The Reliance Board has unanimously recommended the proposal. The acquisition is subject to shareholder and regulatory approvals and is expected to close in the first quarter of 2027.
- Strategic Rationale: Brookfield aims to support Reliance's growth by leveraging its position as a market leader in push-to-connect (PTC) fittings and its strong relationships with retailers and wholesalers.