AO Smith Mergers and Acquisitions Summary

ManufacturingCompany

AO Smith has acquired 14 companies, including 7 in the last 5 years. A total of 4 acquisitions came from private equity firms.

AO Smith’s largest acquisition to date was in 2011, when it acquired Lochinvar for $418M. AO Smith has acquired in 5 different US states, and 3 countries. The Company’s most targeted sectors include electrical equipment (64%) and manufacturing (28%).

Join Mergr and gain access to AO Smith’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the manufacturing sector.

M&A Summary

  • M&A Total Activity11
    • M&A Buy Activity11
  • Total Sectors Invested 3
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 6

AO Smith

AO Smith Corp.

11270 West Park Place, Suite 170,
Milwaukee, Wisconsin 53224
United States,
(414) 359-4000
www.aosmith.com

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 established in 1874 and is based in Milwaukee, Wisconsin.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.6/yr) # 8 - - 1 - 2 11
vol $1.3B $107M $192M $1.6B
Sell (0.0/yr) # - - - - - - 0
  11

Most Recent M&A

Company Date Value Type
Usines GIANT Factories, Inc. 2021-10-19 192M USD Add-on Acquisition
Montreal, Quebec · www.giantinc.com
Master Water Conditioning Corp. 2021-07-23 - Add-on Acquisition
Pottstown, Pennsylvania · www.masterwater.com
Water-Right, Inc. 2019-04-08 107M USD Add-on Acquisition
Appleton, Wisconsin · www.water-right.com
Sun Water Systems, Inc. (dba Aquasana) 2016-08-08 87M USD Add-on Acquisition
Haltom City, Texas · www.aquasana.com
Lochinvar LLC 2011-08-26 418M USD Add-on Acquisition
Lebanon, Tennessee · www.lochinvar.com
GSW, Inc. 2006-04-03 340M USD Add-on Acquisition
Oakville, Ontario · www.gsw-wh.com
American Water Heater Co. 2006-04-03 - Add-on Acquisition
Johnson City, Tennessee · www.americanwaterheater.com
Yueyang Zhongmin Special Electrical Machinery Co., Ltd. 2005-11-08 - Add-on Acquisition
Yueyang, China
State Industries, Inc. 2001-09-17 58M USD Add-on Acquisition
Ashland City, Tennessee · www.statewaterheaters.com
MagneTek - Motor Operations 1999-08-02 250M USD Divestiture
Menomonee Falls, Wisconsin
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Electrical Equipment 7 (64%) 1.2B (75%) - -
Manufacturing 3 (27%) 279M (18%) - -
Environmental 1 (9%) 107M (7%) - -
Total 11 $1.6B - -

By Geo

State/Country Buy Value Sell Value
United States 8 1.0B - -
  Tennessee 3 476M - -
  Wisconsin 2 357M - -
  Texas 1 87M - -
  Pennsylvania 1 - - -
  Kentucky 1 120M - -
Canada 2 532M - -
  Quebec 1 192M - -
  Ontario 1 340M - -
China 1 - - -
Domestic 8 (73%) 1.0B (66%) - -
Cross-border 3 (27%) 532M (34%) - -
Total 11 $1.6B - -

Deal Values

buy # Total
$100M to $1B 6 $1.4B
< $100M 2 $145M
TOTAL $1.6B
Largest Lochinvar LLC
$418M (2011-08-26)

M&A Connections

Deals
Acquired from
Investor(s)
9%
1 (9%)
Strategic(s)
18%
2 (18%)

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