Watts Water draws $45 million on revolver for PVI Riverside purchase

By Wendy Van Sickle

Columbus, Ohio, Nov. 2 – Watts Water Technologies, Inc. borrowed $45 million under its revolving credit facility on Tuesday, which it used to partially finance its acquisition of PVI Riverside Holdings, Inc., according to an 8-K filing with the Securities and Exchange Commission.

As of Tuesday, the company had borrowed the full amount of the $300 million term loan available under the credit agreement and $275 million of the revolving credit available under the credit agreement. About $200 million remains available under the revolver.

The revolver has an accordion providing for up to an additional $500 million.

JPMorgan Chase Bank, NA is the administrative agent.

Watts Water is a North Andover, Mass.-based plumbing equipment manufacturer.

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