Watts Water Technologies Inc. (NYSE: WTS) is buying Aerco International Inc. from private equity firm the Riverside Co. for $264.5 million.

Aerco, headquartered in Blauvelt, New York, manufactures commercial boilers, water heaters and other products. Riverside bought the company in 2007. Since then, the company has expanded product lines, including tankless water heaters, and opened a manufacturing facility and research and development lab.

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