Watts Water Technologies Acquires I-CON Systems

NORTH ANDOVER, Mass.–(BUSINESS WIRE)–Watts Water Technologies, Inc., (NYSE: WTS)  – through its subsidiaries, one of the world’s leading manufacturers and providers of plumbing, heating and water quality products and solutions – today announced that it has acquired I-CON Systems Inc., a leading provider of plumbing control solutions primarily for the corrections market. I-CON’s annualized sales are approximately $25 million. The acquisition was funded with cash on hand. 

Chief Executive Officer Robert J. Pagano Jr. commented, “We are excited to welcome the I-CON team to Watts. This acquisition is consistent with our established strategy and further positions Watts for growth. The addition of I-CON’s innovative water management systems will allow us to expand our digital offerings and provide growth opportunities in the correctional niche of the institutional market. I want to thank the teams at Watts and I-CON for their efforts to get us to closing today and helping to ensure a smooth, effective transition as we integrate I-CON with Watts.”

President and CEO of I-CON Systems Shawn Bush stated, “Watts acquisition of I-CON will provide tremendous resources and opportunities for the continued growth of the I-CON brand. The similarities in culture and commitment to innovation and customer excellence will contribute to our long-term success.”

Additional information regarding the transaction will be discussed during the Watts fourth quarter earnings call in February 2025.

About Watts Water Technologies, Inc.

Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating and water quality product lines in the world. Watts Water companies and brands offer innovative plumbing, heating and water quality solutions to control the efficiency, safety, and quality of water within commercial, residential and industrial applications. For more information, visit www.watts.com.

About I-CON

I-CON was founded in 1994 in Oviedo Florida. I-CON designs, manufactures and installs intelligent plumbing solutions tailored for the correctional market. For more information visit www.i-con.com.