Reliance Worldwide to sell business to Brookfield for US$2.9B
- Reliance Worldwide Corporation entered a binding agreement to be acquired by Brookfield Capital Partners for US$3.38 cash per share.
- The deal values Reliance at an enterprise value of approximately US$2.9 billion, sending its share price up to $4.55.
- The transaction aligns with Reliance's reporting currency while delivering an immediate cash premium to its shareholders.
Reliance Worldwide Corporation (ASX:RWC) has agreed to a binding scheme implementation deed under which Brookfield Capital Partners will acquire 100% of its ordinary shares for US$3.38 per share.
The binding offer follows a series of non-binding cash proposals from Brookfield in April and May 2026 that ranged from A4.50 per share.
The offer represents an enterprise value of approximately US$2.9 billion and an implied FY26 EBITDA multiple of roughly 12.1x on a post-AASB16 basis.
Based on exchange rates on Sept. 15, the US$3.38 cash offer equals $4.75 per share, giving shareholders a 31.5% premium to the undisturbed close.
Following the announcement, the Reliance Worldwide Corporation share price was up at $4.55.
The transaction includes a "Go Shop" arrangement that allows Reliance to seek higher potential buyout offers during an agreed process period.
The business operates as a global provider of water flow control and plumbing solutions with major markets across North America, Europe, and the Asia-Pacific.
