Mueller Water Products of Atlanta announced that it has acquired Krausz Industries, Ltd., a manufacturer of pipe couplings, grips and clamps, for US$140 million in cash. Krausz provides a full suite of innovative and proprietary pipe couplings, grips and clamps under the HYMAX brand for the global water and wastewater industries.
Krausz Industries was founded in 1920 and is headquartered in Tel Aviv, Israel, with manufacturing operations in Israel, distribution facilities in the U.S., and 300 employees world-wide. Krausz had net sales of approximately US$43 million in 2017 with approximately 75 percent of its sales generated in North America.
Krausz now becomes part of Mueller Water Products’ Infrastructure segment. Krausz’s product line of pipe couplings, grips and clamps are designed to address repair or pipe connection needs across a broad range of applications, pipe sizes and pipe materials.
Krausz has a history of growth, profitability, and execution through new product development. The acquisition aligns with Mueller Water Products’ strategic focus on product and geographical expansion, and is complementary from product, distribution, customer, and manufacturing perspectives. This acquisition will also position Mueller in the growing pipe repair market.
“For over a century, the Mueller name has been synonymous with quality products and innovation,” said Scott Hall, president and CEO of Mueller Water Products. “The Krausz name has a strong legacy and is known for its high quality products in the U.S. and internationally. The addition of pipe connection and repair to our solution portfolio enables us to address an even broader scope of needs within the water infrastructure system, while expanding our global presence.”
Danny Krausz, CEO of Krausz Industries, said “We are excited to join an organization that shares our values of engineering excellence, innovation and customer service.
“We are proud of the company we’ve built and we believe becoming a part of Mueller will benefit our employees and customers. We look forward to the next chapter as we continue to design and build mission-critical and innovative products and technologies for the water industry.”