Watts expands commercial water heater holdings
November 7, 2016
Watts Water Technologies, Inc. has acquired PVI Industries. PVI is a manufacturer of engineer-specified plumbing and heating equipment for new construction and building retrofits. Its solutions utilize gas, oil, electric, steam, and hot water or combinations of energies in storage tanks ranging from 125 to 4500 gallons. The company is based in Fort Worth, TX, and its production is 100 per cent dedicated to the ASME commercial market with no residential manufacturing.
An ASME-code water heater manufacturer, PVI builds pressure vessels and heat exchangers from duplex stainless steel. Its product portfolio complements that of AERCO International, Inc., a wholly-owned subsidiary of Watts. AERCO introduced the first modulating and condensing gas-fired boiler and water heater for the commercial market. The company is based in Blauvelt, NY.
PVI and AERCO will now be part of a new Heating and Hot Water Solutions business platform at Watts that will operate out of both Fort Worth, TX, and Blauvelt, NY. The platform will be led by James Dagley, who will serve as president of the Heating and Hot Water Solutions platform, while also continuing to lead AERCO.
“PVI is a recognized leader in the growing market for high efficiency hot water heaters,” said Dagley. “PVI brings a full suite of differentiated products that complement our existing water heating portfolio, strengthening our ability to provide complete system solutions for our customers.”
“This acquisition brings together two great brands, PVI and AERCO, that share a similar set of values, customers, and markets, with a strategic vision for growth,” said PVI president Chris Bollas. “We are impressed with the strength of the AERCO management team and look forward to working with them to capture new opportunities in the marketplace.”