Brookfield Agrees to Buy Reliance Worldwide in $2.8B Deal

Brookfield Capital Partners has agreed to acquire Australian plumbing manufacturer Reliance Worldwide in an all-cash transaction valued at approximately $2.8 billion, paying $3.38 per share. The acquisition marks a major consolidation move in the global building products sector, bringing a major manufacturer of plumbing and heating solutions under private equity ownership ahead of a projected early 2027 close.

"Brookfield’s expertise in industrials and the U.S. housing market positions it well to support Reliance in its next phase of growth and over the long term," said Anuj Ranjan, CEO of Brookfield’s Private Equity group, in a statement regarding the acquisition.

Strategic Rationale and Global Operations

Reliance Worldwide operates extensively across the Americas, EMEA, and Asia Pacific markets, specializing in engineered plumbing and heating solutions. The company is best known for its push-to-connect fittings, which allow installers to join pipes without soldering, gluing, or crimping. These products have gained widespread adoption in both residential and commercial renovation and new construction markets.

The backing from Brookfield Capital Partners aims to scale these operations by leveraging Brookfield's existing footprint in industrial assets and residential construction supply chains. Private equity firms have increasingly targeted manufacturing businesses with strong distribution networks, viewing them as resilient cash-flow generators despite macroeconomic fluctuations in housing starts.

Transaction Timeline and Approvals

The $2.8 billion all-cash deal remains contingent on several closing conditions customary for international acquisitions of this scale. The transaction is subject to approval by Reliance Worldwide shareholders, alongside standard regulatory clearances and government sign-offs across the jurisdictions where the plumbing manufacturer operates.

If approvals proceed without significant antitrust or foreign investment hurdles, the companies anticipate that the acquisition will officially close in the first quarter of 2027. Until that time, Reliance Worldwide will continue to operate as an independent entity.

What Is at Stake for Industrial Markets

The acquisition underscores the deployment of private equity capital into industrial manufacturing and building products. By taking Reliance Worldwide private at $3.38 per share, Brookfield secures direct exposure to global plumbing maintenance and renovation demand, positioning itself to capitalize on infrastructure and housing upgrade cycles across multiple continents.