A.O. Smith finalizes $470 million Leonard Valve buy

A.O. Smith on Jan. 6 announced that it has completed its acquisition of Rhode Island-based Leonard Valve Company for $470 million. 

What’s happening: A.O. Smith first announced that it would buy Leonard Valve in November 2025, funding the deal through a mix of debt and approximately $412 million in cash. 

Of note: Leonard Valve was founded in 1911 and is known for its digital and thermostatic mixing valve technologies and Heat-Timer advanced boiler controls.

What they’re saying: “This acquisition expands our presence in the water management market, enhances our digital expertise and broadens our integrated product offering with commercial and institutional customers,” A.O. Smith CEO Steve Shafer said in a statement.