Brookfield agrees to acquire Reliance Worldwide for $2.8 billion

Brookfield ($BAM) agreed to acquire all shares in Reliance Worldwide, the plumbing and heating products manufacturer, for US$3.38 per share in cash. The agreement values the business at approximately US$2.8 billion including debt. Reliance’s board unanimously recommended the transaction, which would take the Australian-listed company private.

The investment will be made through Brookfield Capital Partners and affiliated investors, including Brookfield Business ($BBUC) Corporation. Reliance supplies plumbing systems across the Americas, Europe and Asia-Pacific, including push-to-connect products. Completion is expected in the first quarter of 2027, subject to shareholder approval and regulatory and government clearances. The announcement is a definitive agreement, not confirmation of closing; the enterprise value is also not the amount paid solely for the shares.

Sources:

• Brookfield — acquisition announcement, GlobeNewswire reprint