Global water technology company, A.O. Smith Corp., has signed a definitive agreement to acquire LVC Holdco LLC (Leonard Valve Company) of Cranston, Rhode Island. According to A.O. Smith Corp., the all-cash transaction is valued at $470 million after adjusting for estimated tax benefits.
The acquisition is expected to be funded through a combination of cash on hand and committed debt financing. A.O. Smith anticipates that the transaction will close in the first quarter of 2026.
Leonard Valve with its Heat-Timer brand, is a pioneer in water management technologies. The company is one of the leaders in digital and thermostatic mixing valve technologies while Heat-Timer provides advanced boiler controls that optimize hydronic heating. Combined, they provide solutions and efficient control of water temperature in commercial and institutional settings.
The acquisition will establish A.O. Smith with a new growth platform in the water management category. It will also accelerate the company’s digital and connected water strategy through Leonard’s advanced mixing technology and the Heat-Timer platforms.
Courtesy A.O. Smith.