Brookfield Asset Management to Acquire Reliance Worldwide Corp for US$2.8 Billion

By Tamara Parker • Wednesday, September 16 13:01 • Permanent Link

Brookfield has agreed to buy Reliance Worldwide Corp. in an all-cash deal valuing the plumbing products maker at about US$2.8 billion.

Under the proposal, Reliance shareholders would receive US$3.38 per share. The Reliance board has unanimously backed the offer and shareholders will vote on the transaction.

Reliance is a global manufacturer of plumbing and heating solutions with operations across the Americas, Europe, the Middle East and Asia Pacific. Brookfield said the company is a market leader in push-to-connect fittings, a segment it described as still underpenetrated versus traditional joining methods.

The deal is being funded through Brookfield Capital Partners and Brookfield Business Corporation. Brookfield said the transaction is expected to close in the first quarter of 2027, pending shareholder, regulatory and government approvals.

Brookfield said Reliance’s business has recurring replacement demand tied to aging housing stock and that the company has room to expand beyond push-to-connect products into adjacent categories. The market has reacted to these announcements by moving the company's shares 0.44% to a price of $46.04. Check out the company's full 8-K submission here.

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