CSW Industrials deploys $40M for PF Waterworks acquisition

CSW Industrials (CSWI) announced the strategic acquisition of PF Waterworks, LP, deploying $40 million. This additional acquisition in our Contractor Solutions Segment represents the Company’s commitment to allocate capital on a risk adjusted returns basis for innovative products which add vitality to our portfolio of products. CSWI funded the transaction with cash on hand. PF Waterworks develops and manufactures revolutionary, problem-solving plumbing products targeting ‘Clean and Green’ for both residential and commercial applications. The advanced, proven technology used in these products is certified for public health and safety and provides dependable performance that promotes self-sufficiency and makes life easier for homeowners, contractors, property managers, and builders. PF Waterworks sets a new industry standard in drain management products while providing excellent value for partners and customers. The $40 million of capital for the acquisition of PF Waterworks, including estimated working capital adjustments but excluding future earn-outs, represents a valuation of approximately 9.5x PF Waterworks’ trailing twelve-month adjusted earnings before interest, taxes, depreciation, and amortization