Brookfield, through its flagship private equity strategy, has entered into an agreement to acquire 100% of Reliance Worldwide Corporation (RWC), a global manufacturer of plumbing and heating solutions. The transaction values Reliance at an enterprise value of approximately US$2.8 billion.

The Reliance Board has unanimously recommended Brookfield’s all-cash proposal of US$3.38 per share to shareholders, who will vote on the agreement. The transaction remains subject to customary closing conditions, including shareholder, regulatory and government approvals, and is expected to close in Q1 2027.

Headquartered in the US, Reliance operates across the Americas, Europe and the Middle East (EMEA), and Asia Pacific regions. The company is recognised for its push-to-connect (PTC) fittings for plumbing systems and has established brands across global markets.

Anuj Ranjan, CEO of Brookfield’s Private Equity group, said, “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 stated that its global operating expertise in industrials and the US housing ecosystem will support Reliance’s next phase of growth. The investment will be funded through the Brookfield Capital Partners strategy and its affiliate Brookfield Business Corporation.

The acquisition highlights Reliance’s growth opportunities through expansion of non-PTC products, strong customer relationships and demand supported by replacement needs in ageing housing infrastructure across markets.