M&A Deal Summary

AO Smith Acquires GSW

On April 3, 2006, AO Smith acquired electrical equipment company GSW for 340M USD

Acquisition Highlights
  • This is AO Smith’s 6th transaction in the Electrical Equipment sector.
  • This is AO Smith’s 2nd largest (disclosed) transaction.
  • This is AO Smith’s 1st transaction in Canada.
  • This is AO Smith’s 1st transaction in Ontario.

M&A Deal Summary
Date 2006-04-03
Target GSW
Sector Electrical Equipment
Buyer(s) AO Smith
Deal Type Add-on Acquisition
Deal Value 340M USD

Target

GSW

Oakville, Ontario, Canada
GSW, Inc. is a water heating segment manufactures and markets water heaters sold in the U.S. and Canada through its American Water Heater Company and GSW Water Heater subsidiaries.

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Buyer(S) 1

Buyer

AO Smith

Milwaukee, Wisconsin, United States
Category Company
Founded 1874
Sector Manufacturing
Employees12,000
Revenue 3.9B USD (2023)
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 6 of 14
Sector (Electrical Equipment) 6 of 7
Type (Add-on Acquisition) 4 of 11
State (Ontario) 1 of 1
Country (Canada) 1 of 2
Year (2006) 2 of 2
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-03 American Water Heater

Johnson City, Tennessee, United States

American Water Heater Co. is a manufacturer of high quality water heater products with manufacturing, research and development.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-26 Lochinvar

Lebanon, Tennessee, United States

Lochinvar LLC is a manufacturer of high-efficiency boilers used in commercial and residential hydronic heating and hot water applications.

Buy $418M
Mergr

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