CLA Advises on Sale: Josam Company to Watts Water Technologies, Inc.

  • Industry trends
  • 1/19/2024
Josam Company to Watts Water Technologies  Sitecore

CLA Advises Sale: Josam Company to Watts Water Technologies

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CLA (CliftonLarsonAllen LLP), the eighth largest accounting firm in the United States, announced Josam Company (“Josam” or the “company”), a leading manufacturer of drainage and plumbing products, has been acquired by Watts Water Technologies, Inc. (NYSE: WTS) (“Watts”). CLA served as the exclusive financial advisor to Josam on the transaction.

Josam was founded in 1914 as a manufacturer of drainage and plumbing products. Over its 100+ year history, the company has built a comprehensive portfolio of high-quality products for a diverse customer base serving commercial, industrial, and multi-family end markets. Josam is headquartered in Michigan City, Indiana.

“With the sale of Josam, we wanted to ensure a continued high level of service and quality for our customers while providing further opportunities for our employees. The resources Watts offers are essential to taking Josam to the next level,” said B. Scott Holloway Sr., president and CEO. “In choosing the investment bank to advise us on the transaction, we knew CLA’s team had the significant experience and cultural fit we were looking for.”

The transaction seamlessly brought together various aspects of CLA including investment banking, accounting, tax, and quality of earnings.

“Scott's pride in Josam was evident from our earliest discussions, and he was committed to finding the right buyer who would provide a successful future and legacy for Josam and its customers and employees,” said Ian Sylvan, managing director on CLA’s investment banking team. “Balancing the company’s non-financial and financial goals was a focus for CLA throughout the transaction. We are pleased we have found a buyer in Watts who could meet all Josam’s objectives.”

Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the United States providing 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.

The CLA investment banking team comprised Ian Sylvan, Derek Murphy, and James Luzum. Joe Baez and Matt Lagieski from CLA led the quality of earnings advisory, while Chris Gugora and Nick Romanelli from CLA led the accounting and tax advisory. Stuart Kurtz, John Stacey and the team from Kurtz and Partners P.C. ( acted as Josam’s trusted legal counsel for the transaction.

CLA’s investment banking professionals specialize in providing sophisticated corporate finance advisory and investment banking services to middle-market businesses and owners. Their services include mergers and acquisitions, recapitalizations, and other transaction-related advisory services.

For more information on CLA and its investment banking practice, visit

Securities products, merger and acquisition services, and wealth advisory services are provided by CliftonLarsonAllen Wealth Advisors LLC, a federally registered investment advisor and member FINRA, SIPC.

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