ATLANTA, JANUARY 30, 2017 -- Mueller Water Products Inc. today announced that it has signed a definitive agreement to acquire Singer Valve, a manufacturer of automatic control valves, for $34 million in cash.
Singer Valve designs and manufactures automatic control valves, offering engineered products for pressure management within water works. It also manufactures similar valves used in 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 United States. This specification position, coupled with Mueller Co.'s extensive North American distribution network, is a key part of the growth strategy for Singer Valve.
This 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 of 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."
"We appreciate Mueller's commitment to research and development, as well as its reputation for quality and service, which have enabled it to become the leading brand in water infrastructure in North America," said Andrew Taylor, president of Singer Valve. "We believe Mueller and Singer share similar cultures and values, as well as a dedication to helping municipalities effectively address aging water infrastructure while enhancing operational efficiencies."
About Mueller Water Products
Mueller Water Products Inc. is a leading manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. Our broad product and service portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment. We help municipalities increase operational efficiencies, improve customer service and prioritize capital spending, demonstrating why Mueller Water Products is Where Intelligence Meets Infrastructure®. Visit www.muellerwaterproducts.com.
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