Milwaukee-based A.O. Smith Corp. has acquired Florida-based water treatment company Atlantic Filter Corp. in an all-cash transaction.
Terms of the deal were not disclosed.
The acquisition marks the fifth company A.O. Smith has bought to grow its North American water treatment business since 2016. Previous deals included Aquasana for $85.1 million, Hague Quality Water for $43.1 million, Water-Right Group for $107 million, and Master Water Corp. for $9 million.
“The acquisition of Atlantic Filter further expands our capabilities in Florida and beyond,” said Kevin Wheeler, president and chief executive officer of A.O. Smith. “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.”
Based in West Palm Beach, Atlantic Filter was in its third generation of family ownership. The company makes and sells water treatment equipment for residential, commercial, institutional and industrial use.
“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.