A.O. Smith to acquire LVC Holdco of Cranston for $470M

Global water technology company A. O. Smith Corporation announced that it has signed a definitive agreement to acquire LVC Holdco of Cranston, Rhode Island, for $470M, subject to customary adjustments. The Company expects the transaction to close in the first quarter of 2026, subject to the satisfaction of customary closing conditions and receipt of regulatory approvals. The all-cash transaction is valued at approximately $412M after adjusting for estimated tax benefits and is expected to be funded through a combination of cash on hand and committed debt financing. The purchase price, adjusted for the present value of the expected tax benefit, represents an adjusted multiple of approximately 12 times forecasted 2026 EBITDA. BofA Securities served as exclusive financial advisor, and Foley & Lardner LLP served as legal advisor to A. O. Smith Corporation.