Brookfield signs US$2.8 billion deal to take Reliance Worldwide private

The transaction and headline valuation

Brookfield Capital Partners LLC has signed a definitive agreement to acquire Reliance Worldwide Corporation Ltd., the Australia-listed plumbing products maker, in a deal that values the target at approximately US$2.8 billion. Canadian Press reporting carried by the Winnipeg Free Press said Brookfield has signed the deal to buy Reliance Worldwide and confirmed the US$2.8 billion enterprise value figure, while industry coverage independently described the transaction as a US$2.8 billion agreement to take Reliance Worldwide private.

Scheme terms and pricing

Reliance Worldwide has entered into a scheme implementation deed with Brookfield Capital Partners under which Reliance shareholders will receive A$3.38 per share, according to a summary of the agreement. One outlet carrying the GlobeNewswire announcement framed the implied deal value at about US$2.9 billion, slightly above the US$2.8 billion figure cited in the Canadian Press and private-equity wire summaries, reflecting differing FX or fee-adjusted treatments rather than a confirmed disagreement on per-share consideration.

Strategic rationale and buyer profile

GlobeNewswire material distributed via the Manila Times said the transaction is intended to support Reliance Worldwide's next phase of growth as a global leader in plumbing products and solutions, positioning the Australian-listed company for further international expansion under private ownership. Brookfield Capital Partners, the deal vehicle, is part of the broader Brookfield alternative-asset platform that has been active in carve-outs and take-privates of mid-cap industrial and building-products issuers.

Process and next steps

Reliance Worldwide disclosed that the scheme implementation deed governs the way the transaction will be put to shareholders and the Australian courts, the customary Australian mechanism for a buyout of this size. Completion is expected to be subject to conditions including Reliance shareholder approval, Australian court sanctioning of the scheme, and customary regulatory clearances, though specific milestone dates were not detailed in the available reporting.

What remains to be confirmed

The per-share consideration of A$3.38 is consistent across lead-source reporting, but the two headline enterprise values cited — US$2.8 billion and roughly US$2.9 billion — have not been reconciled in the supplied evidence. The exact timing of the scheme booklet, shareholder meeting, and court hearing were not specified in the available sources.