A.O. Smith to acquire State Industries for $58 million

A.O. Smith reached a definitive agreement to acquire water-heater manufacturer State Industries for $58 million plus assumption of ~$51 million of debt, subject to government approval. Equipment-manufacturer M&A, not a home-service roll-up.

“A.O. Smith Corporation has reached a definitive agreement to acquire State Industries, Inc., a privately held manufacturer of residential and commercial water heaters.”

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