A.O. Smith to acquire Lochinvar for $418 million

A.O. Smith signed a definitive agreement to acquire privately held boiler manufacturer Lochinvar Corporation for $418 million (with up to $35M earnout), funded via cash and its revolving credit facility, to build a global water heating/boiler platform.

“Milwaukee, WI, announced on July 19 it has signed a definitive agreement to acquire Lochinvar Corporation of Lebanon, TN, for $418 million and will not assume Lochinvar’s existing debt.”

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