Brookfield Agrees to Acquire Reliance Worldwide for $2.8 Billion

Brookfield entered into an agreement to acquire 100% of Reliance Worldwide Corporation, a global manufacturer of plumbing and heating solutions. The all-cash proposal offers shareholders US$3.38 per share, representing an enterprise value of approximately US$2.8 billion.

The Reliance Board unanimously recommended the transaction, which is expected to close in the first quarter of 2027 pending shareholder, regulatory, and government approvals. Funding for the acquisition will be provided through the Brookfield Capital Partners strategy and its affiliate, Brookfield Business Corporation.

Brookfield intends to use its industrial expertise and presence in the US housing ecosystem to drive growth for Reliance, specifically targeting the underpenetrated push-to-connect fittings market. Anuj Ranjan, CEO of Brookfield’s Private Equity group, described Reliance as a global, market-leading industrial company with clear opportunities for value creation through operational investment and product expansion.