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The transaction will support Reliance’s next phase of growth as a global leader in plumbing products and solutions
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NEW YORK and SYDNEY, Sept. 15, 2026 (GLOBE NEWSWIRE) — Brookfield, through its flagship private equity strategy, today announced that it has entered into an agreement to acquire 100% of global manufacturer of plumbing and heating solutions Reliance Worldwide Corporation (“Reliance”) (ASX: RWC).
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The Reliance Board has unanimously recommended the all-cash proposal of US$3.38 per share to shareholders, who will vote on the agreement. The proposal constitutes an enterprise value for Reliance of approximately US$2.8 billion.
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Reliance is headquartered in the US, with operations across the Americas, Europe and the Middle East (EMEA), and Asia Pacific.
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Anuj Ranjan, CEO of Brookfield’s Private Equity group, said:
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“Reliance is the type of business we look for – a global, market-leading industrial company with strong brands, durable customer relationships and clear opportunities to create value through investment in operations and continued product expansion. Brookfield’s global operating expertise in industrials and the US housing ecosystem positions us well to support Reliance in its next phase of growth and over the long term.”
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Investment Highlights
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- Market leader: The market leader in push-to-connect (“PTC”) fittings for plumbing systems, with category-defining brands across the Americas, EMEA and APAC. The PTC segment remains underpenetrated relative to traditional joining methods.
- Adjacent products: Proven model to expand non-PTC products to existing customers, supported by strong position with major retailers and the wholesale channel.
- Industry tailwinds: Resilient cashflows underpinned by recurring replacement needs in aging housing stocks. A new generation of trades professionals are more receptive to the core PTC products, which increases a long-term demand tailwind.
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Transaction Details
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Brookfield’s investment will be funded through the Brookfield Capital Partners strategy and its affiliate Brookfield Business Corporation (NYSE: BBUC, TSX: BBUC).
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The transaction remains subject to customary closing conditions including shareholder, regulatory and government approvals. Subject to the necessary approvals, the transaction is expected to close in Q1 2027.
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About Brookfield
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Brookfield is a leading global investment firm, headquartered in New York, with more than $1 trillion in assets under management. The firm owns and operates high-quality businesses and real assets that provide essential services and form the backbone of the global economy. Brookfield invests on behalf of institutions and individuals around the world across infrastructure, energy, private equity, real estate, and credit. With more than a century of operating experience and a global presence in over 50 countries, Brookfield deploys long-term capital to generate sustainable value for its clients and shareholders. Brookfield Corporation (NYSE: BN, TSX: BN) and Brookfield Asset Management (NYSE: BAM, TSX: BAM) are publicly traded in New York and Toronto.
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