M&A Deal Summary

AO Smith Acquires GIANT

On October 19, 2021, AO Smith acquired manufacturer GIANT for 192M USD

Acquisition Highlights
  • This is AO Smith’s 3rd transaction in the Manufacturing sector.
  • This is AO Smith’s 4th largest (disclosed) transaction.
  • This is AO Smith’s 2nd transaction in Canada.
  • This is AO Smith’s 1st transaction in Quebec.

M&A Deal Summary
Date 2021-10-19
Target GIANT
Sector Manufacturing
Buyer(s) AO Smith
Deal Type Add-on Acquisition
Deal Value 192M USD

Target

GIANT

Montreal, Quebec, Canada
website
GIANT manufactures a complete line of residential electric, gas, and oil-fired water heaters at two facilities in Montreal and sells water heating products across Canada. GIANT was founded in 1945 and is based in Montreal, Quebec.

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Buyer(S) 1

Buyer

AO Smith

Milwaukee, Wisconsin, United States

website

Category Company
Founded 1874
Sector Manufacturing
Employees12,000
Revenue 3.8B USD (2022)
DESCRIPTION
Entrance to AO Smith's corporate headquarters in Milwaukee, Wisconsin.
Entrance to AO Smith's corporate headquarters in Milwaukee, Wisconsin.

AO Smith is a manufacturer of water heaters and boilers, serving a diverse mix of residential and commercial end markets. The Company's water heater segment offers electric, natural gas and liquid propane models as well as solar tanks and gas tankless units for today’s energy efficient homes. AO Smith's commercial boilers are used primarily in space heating applications including hospitals, schools, hotels and other large commercial buildings. AO Smith was incorporated in 1874 and is based in Milwaukee, Wisconsin.

DEAL STATS #
Overall 11 of 13
Sector (Manufacturing) 3 of 5
Type (Add-on Acquisition) 9 of 11
State (Quebec) 1 of 1
Country (Canada) 2 of 2
Year (2021) 2 of 2
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-23 Master Water Conditioning

Pottstown, Pennsylvania, United States

Master Water Conditioning offers residential, commercial, and light industrial products and systems to address a wide range of water issues. Master Water products include point-of-entry water softeners, filters, and ultrafiltration systems, which are sold under the names Alliance, Clarifier, MasterFusion, Satin, PuroPro, UltraPro, and Clear Reflections, among others. Master Water Conditioning was founded in 1967 and is based in Pottstown, Pennsylvania.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Atlantic Filter

West Palm Beach, Florida, United States

Atlantic Filter is a manufacturer and dealer of quality water treatment equipment for residential, commercial, institutional, and industrial use. Atlantic Filter was founded in 1955 and is based in West Palm Beach, Florida.

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