Watts Acquires Go Regulator, Inc.

NORTH ANDOVER, MASS. (April 8) BUSINESS WIRE -April 8, 1999--Watts Industries, Inc. (NYSE:WTS) announced today that it has acquired Go Regulator, Inc. located in San Dimas, California. Founded in 1962, Go Regulator, Inc. designs and manufactures a complete line of pressure regulators and reducers for the control of either liquid or pneumatic pressure in process, instrumentation, and analytical applications. Sales of Go Regulator, Inc. for 1998 were approximately $5.2 million.

The terms of the deal were not disclosed, however, Watts Industries' Chairman and Chief Executive Officer, Mr. Timothy P. Horne, stated, "The acquisition of Go Regulator basically completes the instrumentation product offering that we have been attempting to accumulate through a series of eight acquisitions over the last four years, the largest acquisition being that of Hoke, Inc. in July of 1998. The instrumentation products group, which is organized under our Circle Seals Controls, Inc. subsidiary, now has annual revenues of approximately $120 million which represents respectable market position worldwide for instrumentation valve and fitting products. In addition, the manufacturing capabilities acquired with Go Regulator, Inc. will allow us to further consolidate our manufacturing facilities and will also provide us the capability to machine components that have previously been subcontracted to outside vendors."

Horne added, "We are excited about the opportunities that Go Regulator gives us since it fills a vital and significant gap in our existing product offering for the instrumentation market and strengthens our position with our distributors worldwide."

Watts Industries, Inc. designs, manufactures and sells an extensive line of valves for the Plumbing and Heating, Water Quality, Industrial, and Oil and Gas markets.

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CONTACT: Watts Industries Inc.

          Kenneth J. McAvoy, 978/688-1811 

KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: AEROSPACE/DEFENSE BUILDING/CONSTRUCTION ENVIRONMENT
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