Watts Water repays debt using bulk of $121 million repatriated cash

By Devika Patel

Knoxville, Tenn., Nov. 5 – Watts Water Technologies, Inc. used the majority of its year-to-date repatriated cash to repay debt.

“During the third quarter, we repatriated approximately $11 million in cash,” chief financial officer Shashank Patel said on the company’s third quarter ended Sept. 30 earnings conference call on Monday.

“Year to date, we have repatriated about $121 million using a majority of that to pay down debt,” he said.

Cash and cash equivalents were $156.8 million as of Sept. 30, 2018, compared to $280.2 million as of Dec. 31, 2017.

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

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