A. O. Smith to acquire Lochinvar

Milwaukee — A. O. Smith Corporation announced it has signed a definitive agreement to acquire Lochinvar Corporation of Lebanon, Tenn., for $418 million and will not assume Lochinvar’s existing debt.

Privately held Lochinvar is a leading manufacturer of high-efficiency boilers used in commercial and residential hydronic heating and hot water applications. A. O. Smith expects the acquisition to be accretive to earnings per share in the amount of approximately $.10 in the fourth quarter of 2011, excluding one-time purchase accounting charges and professional fees related to the acquisition, and in the range of $.40 to $.50 per share in 2012. The transaction is expected to close in the third quarter of 2011, subject to customary closing conditions and regulatory review.

“This acquisition fits squarely within our stated strategy to expand our core product offering with new technologies, which emphasize high-efficiency products that can be applied globally,” Paul W. Jones, chairman and chief executive officer, observed. “This is a significant first step in growing our diversified global water heating platform and the beginning of the redeployment of the proceeds from the sale of our Electrical Products Company.”

Oregon’s new Reach Code’ utilizes IAPMO supplement

Ontario, Calif. —The state of Oregon has adopted a first-of-its-kind “Reach Code,” a set of optional construction standards designed to increase the efficiency of buildings above the mandatory statewide building code.

The Reach Code, established in Senate Bill 79 (2009), requires the State of Oregon Building Codes Division to adopt a code encompassing construction methods and technology designed to increase energy and water efficiency over the mandatory codes for builders that choose to incorporate them. Chapter 7 of the code, Water Resource Conservation and Efficiency, is based upon the 2010 IAPMO Green Plumbing and Mechanical Code Supplement (GPMCS), a tool designed to be used as an overlay to any building code to provide code officials with comprehensive, progressive and enforceable green provisions toward sustainable construction practices.

The inclusion of the water efficiency provisions of the GPMCS into the Oregon Reach Code ensures that they are consistent with the requirements of the Oregon Plumbing Specialty Code, which is based upon the IAPMO Uniform Plumbing Code. The IAPMO GPMCS was explicitly developed to work seamlessly with the Uniform Plumbing Code, while maintaining performance, health and safety.

RectorSeal acquires assets of Airtec Products Corporation

Houston — RectorSeal announced the asset purchase of Airtec Products Corporation (Airtec) of Fall River, Massachusetts on August 8, 2011.

Airtec offers a line of uniquely designed and patented diffusers that incorporate a quick and easy to install grill, box and multi-size boot and damper all in one as well as a group of accessory items to help in the ceiling diffuser installation.

Additional they offer the EZ Trap® brand of products for condensate removal from air conditioning and refrigeration systems. This uniquely designed and patented see through trap comes in both a standard ‘P’ trap configuration as well as a waterless model. Both traps are available with either a mechanical or electronic drain pan overflow cutoff switch.

The patented Novent® locking refrigerant caps offered by Airtec enables the contractor to meet the requirements in the 2009 ICC Residential and Mechanical building codes for locking refrigerant caps on new equipment installations.

Rounding out the line of Airtec products are the Aspen condensate pumps for use in minisplit air conditioning systems, the Fortress™ and Slimduct™ line set ducting products, minisplit mounting accessories, and the Big Foot™ roof top mounting system.