A.O. Smith Acquires Giant Factories
October 25, 2021 | By Logan Caswell
A family-owned business founded in 1945, Giant markets its water heaters under the Giant brand and employs more than 300 people.
A.O. Smith has acquired Giant Factories, the Quebec-based manufacturer of residential and commercial water heaters, for US$192 million.
A family-owned business founded in 1945, Giant markets its water heaters under the Giant brand and employs more than 300 people, primarily in Canada. Giant manufactures water heaters at two facilities in Montreal and sells water heating products across Canada.
Claude Lesage, Giant Factories, Inc, President, commented, “We are extremely excited about the benefits of a powerful combination with a world leader in global water technology. This natural and logical partnership with A. O. Smith will enhance prospects for our customers, employees, and suppliers.”
The addition of Giant to A. O. Smith’s existing water heater operations helps grow the Wisconsin-based company’s presence in the Canadian water heater market, which is characterized by a high percentage of replacement demand.
The purchase of Giant also supports A. O. Smith’s decarbonization efforts by increasing the amount of water heating products in its portfolio that are supplied by a renewable energy grid – as Giant’s end markets in Canada are mainly served by a grid that is primarily hydro-sourced and non-carbon intensive.
A.O. Smith, with its headquarters in Milwaukee, Wisconsin manufactures residential and commercial water heaters and boilers and water purification equipment. Earlier this year A.O. Smith acquired Master Water Conditioning Corporation, a Pennsylvania-based water treatment company adding to other water treatment company acquisitions in the past five years includeing: Aquasana (2016), Hague Quality Water (2017) and Water-Right Group (2019).