HoldRite® Joins Reliance Worldwide Corporation
ATLANTA, June 13, 2017 – Reliance Worldwide Corporation (ASX:RWC) today announced that it has completed its acquisition of HoldRite®, a market leader in converting makeshift methods into engineered solutions for the plumbing and mechanical contractor markets in both residential and commercial construction.
HoldRite designs and engineers a set of products and solutions that are very complementary to those made at RWC. RWC’s SharkBite® and Cash Acme® brands offer pipes, valves, and fittings. HoldRite designs secondary pipe supports and alignment brackets, plumbing acoustic isolation solutions, water heater accessories, fitting restraints, firestop systems, drain-waste-vent (“DWV”) solutions, and more.
“RWC’s strategy has been to innovate and commercialize solutions that disrupt and transform the industry and make the trade more effective through enhanced job site performance, while also adding value to our distribution channel partners,” said RWC USA CEO Sean McClenaghan. “The addition of HoldRite is a perfect complement to that strategy. Together, RWC and HoldRite will be able to offer customers something no other competitor has: a total end-to-end solution, meter to fixture, floor to ceiling, from a single manufacturer.”
HoldRite CEO Tim McConnell said, “Our team at HoldRite has propelled the business to double-digit growth almost every year since our inception. That’s a testament to the value customers see in our innovative approach to converting makeshift methods into engineered solutions. Leveraging that unique capability across the combined RWC portfolio has the potential to create significant value for customers across the markets we serve. We are thrilled to take this next step to future growth by joining the RWC team.”
Tim McConnell, CEO & President HoldRite
RWC serves markets in the U.S., Canada and Mexico and is part of the RWC Group, which has operations in six countries. The HoldRite brand will join RWC’s strong legacy brands, including SharkBite® push-to-connect plumbing solutions, and Cash Acme® water control valves.