Watts Water drew $275 million loans with JPMorgan to fund Aerco buyout

By Susanna Moon

Chicago, Dec. 1 – Watts Water Technologies, Inc. drew about $275 million under its credit agreement on Monday with JPMorgan Chase Bank, NA as administrative agent to fund its acquisition of Aerco International, Inc.

As of Monday, the company had drawn about $298.6 million under the credit agreement and $201.4 million remains undrawn, according to an 8-K filing with the Securities and Exchange Commission.

Watts paid about $264.5 million to acquire 100% of the share capital of Aerco.

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

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