Global water technology company AO Smith Corporation has signed a definitive agreement to acquire LVC Holdco for $US470 million.
The transaction will close in the first quarter of 2026.
The all-cash transaction is valued at approximately $412 million after adjusting for estimated tax benefits and is expected to be funded through a combination of cash on hand and committed debt financing.
Founded in 1911, Leonard Valve, together with its Heat-Timer brand, is a pioneer in water management technologies. Leonard Valve leads in digital and thermostatic mixing valve technologies, while Heat-Timer provides advanced boiler controls that optimise hydronic heating.
Together, their solutions ensure safe, precise and efficient control of water temperature in commercial and institutional settings, including hospitals, schools, universities and industrial facilities, where reliability and compliance with safety standards are critical.
"This acquisition represents a compelling strategic fit and a meaningful expansion of AO Smith's presence in the water management market," according to Steve Shafer, chief executive officer of AO Smith.
"Leonard's rich history of engineering excellence and commitment to product quality are deeply aligned with A. O. Smith's own culture and values. Leonard Valve's and Heat-Timer's products work seamlessly with our core water heating and boiler offerings, and this acquisition will allow us to deliver a more integrated, high-performance system through our established channels."
Leonard Valve CEO, David Brakenwagen, said together, they can accelerate the adoption of digital water management technologies and deliver even greater value to their customers.
“AO Smith is a great home for Leonard Valve that will help our people and products reach new heights,” he said.