Merger adds to Watts' Smart & Connected suite of products
SEATTLE, WA, USA, February 23, 2021 /EINPresswire.com/ — ACT Capital Advisors is pleased to announce that its client, The Detection Group, Inc. (“TDG”), was acquired by Watts Water Technologies, Inc. (NYSE: WTS). TDG provides FM Approved wireless leak detection products and notification services for commercial and multifamily buildings.
“We are excited to partner with Watts to build out their connected device strategy,” said Laurie Conner, TDG’s CEO. “Watts’ brand and global reach will enhance our ability to innovate and distribute products to new domestic and international customers.”
“We were interested in TDG as another offering to bundle into our overall Smart & Connected suite of products,” said Watts’ President and CEO, Robert Pagano. “Their products are addressing a key pain point for commercial and multifamily building owners, that being rising insurance costs due to water leaks. We welcome the TDG team to Watts.”
ACT’s Robert Hild (Chairman & CEO), Kevin Outcalt (Managing Director), and Michael Seeley (Senior Associate) advised TDG with respect to the transaction.
About The Detection Group, Inc.
TDG has been protecting buildings from water damage since 2006. The Company’s proven TridentTM technology is always on, 24/7/365, and is the only wireless water leak detection system to receive coveted FM Approval. More information at https://thedetectiongroup.com/.
About Watts Water Technologies, Inc.
Founded in 1874 and headquartered in North Andover, Massachusetts, Watts is a leading manufacturer of water quality and flow control solutions. Watts Regulator serves plumbing, heating, commercial, and marine end-markets. More information at https://www.watts.com/.
About ACT Capital Advisors
ACT Capital Advisors is a premier Mergers & Acquisitions (M&A) firm representing middle-market companies across all industries. ACT has a 30-year history of deal making, closing 200+ transactions and unlocking over $2.5 billion in wealth for its clients. More information at https://actcapitaladvisors.com/.
ACT Capital Advisors
Source: EIN Presswire