A. O. Smith Acquires Water Treatment Solutions Provider Atlantic Filter Corporation

Rhea-AI Summary

A. O. Smith Corporation (NYSE: AOS) has acquired Atlantic Filter Corporation, a Florida-based water treatment company, in an all-cash transaction. The deal, terms undisclosed, strengthens A. O. Smith's North American Water Treatment business, adding to previous acquisitions. This move aims to enhance capabilities in Florida and beyond, aligning with the company's strategy to deliver innovative water solutions. Atlantic Filter has a strong industry reputation and will continue to operate under its existing leadership in West Palm Beach.

Positive

• Acquisition expands A. O. Smith's market presence in Florida.
• Strengthens North American Water Treatment business with a reputable company.
• Continued leadership from Atlantic Filter's management team supports business stability.

Negative

• None.

MILWAUKEE, June 8, 2022 /PRNewswire/ -- Water technology company A. O. Smith Corporation (NYSE: AOS) today announced it acquired Atlantic Filter Corporation, a Florida-based water treatment company in an all-cash transaction. Terms of the transaction were not disclosed. Atlantic Filter joins other A. O. Smith acquisitions Aquasana (2016), Hague Quality Water (2017), Water-Right Group (2019) and Master Water Corporation (2021) in the company's growing North America Water Treatment business.

A. O. Smith Acquires Atlantic Filter Corporation

"The acquisition of Atlantic Filter further expands our capabilities in Florida and beyond. A. O. Smith is committed to growing our water treatment business as part of our strategy to deliver innovative, differentiated solutions that heat and treat water," said Kevin J. Wheeler, president and chief executive officer.

The third-generation, family-owned company was founded in 1955 and is based in West Palm Beach, Florida. Atlantic Filter Corporation is a manufacturer and dealer of quality water treatment equipment for residential, commercial, institutional and industrial use. Atlantic Filter's products are sold through their retail dealership located in West Palm Beach.

"Atlantic Filter has a long-standing history of providing effective water treatment solutions, making them a leader in the water industry and a perfect fit to join the A. O. Smith family," said D. Samuel Karge, president, A. O. Smith North American Water Treatment. "Their reputation for quality and commitment to serving customers with honesty and integrity align perfectly with our company's values."

"I am very pleased the business founded by my father, along with our family legacy, will continue to thrive as a result of this acquisition," said James (Jamie) Wakem II, president and chief executive officer of Atlantic Filter Corporation. As a global water solutions company, A. O. Smith brings great expertise and resources to our organization, allowing for growth that we would not have otherwise been able to achieve."

Wakem, along with his daughter Amanda Wakem Moore, will continue leading the Atlantic Filter business, and the offices will remain based in West Palm Beach. Moore is a Certified Water Specialist through the Water Quality Association (WQA), serves as Vice President on the Board of Governors of WQA and is a mentor for the organization's Women in Industry Mentoring Program. She is also a member of the Florida WQA.

About A. O. Smith

A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a global leader applying innovative technology and energy-efficient solutions to products manufactured and marketed worldwide. Listed on the New York Stock Exchange (NYSE: AOS), the Company is one of the world's leading manufacturers of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment products. For more information, visit www.aosmith.com.

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SOURCE A. O. Smith Corporation

FAQ

What is the purpose of A. O. Smith's acquisition of Atlantic Filter Corporation?

The acquisition aims to enhance A. O. Smith's capabilities in the water treatment market, particularly in Florida, and to deliver innovative solutions.

What is the impact of acquiring Atlantic Filter on A. O. Smith's business?

The acquisition strengthens A. O. Smith's North American Water Treatment business and adds to its portfolio of water treatment solutions.

When did A. O. Smith acquire Atlantic Filter Corporation?

The acquisition was announced on June 8, 2022.

What is the significance of Atlantic Filter Corporation in the water treatment industry?

Atlantic Filter is recognized for providing effective water treatment solutions and has a long-standing reputation in the industry.

How does the acquisition of Atlantic Filter align with A. O. Smith's strategy?

This acquisition supports A. O. Smith's strategy to grow its water treatment business and deliver innovative, differentiated solutions.