0000795403falseWATTS WATER TECHNOLOGIES INC00007954032025-02-032025-02-03

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 3, 2025

WATTS WATER TECHNOLOGIES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

001-11499

04-2916536

(State or Other Jurisdiction

(Commission File Number)

(IRS Employer

of Incorporation)

Identification No.)

815 Chestnut Street, North Andover, Massachusetts 01845

(Address of Principal Executive Offices) (Zip Code)

(978) 688-1811

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

 Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.10 per share

WTS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.05Costs Associated with Exit or Disposal Activities.

On February 3, 2025, the Board of Directors of Watts Water Technologies, Inc. (the “Company”) authorized a restructuring program with respect to the Company’s operating facility in Hautvillers-Ouville, France. The restructuring program is expected to include the shutdown of the foundry at the Company’s manufacturing facility in Hautvillers-Ouville, France and the relocation of the facility’s other production activities primarily to other facilities of the Company in France and other locations in Europe. The program is expected to include pre-tax charges totaling approximately $22 million, including costs for severance, relocation, facility exit and clean-up and certain asset write-downs, and result in the elimination of approximately 96 positions at the Hautvillers-Ouville, France facility. Severance costs make up the majority of the program costs and are estimated to approximate $18 million. As a result of the facility consolidations, the net headcount reduction in France is expected to be approximately 68 positions. Total net after-tax charges for this restructuring program are expected to be approximately $16 million, of which non-cash charges are immaterial, with costs being incurred through the end of 2026, at which time the restructuring program is expected to be completed. The Company expects to spend approximately $1 million in capital expenditures to consolidate operations. Annual pre-tax savings are estimated to be approximately $3 million, which the Company expects to fully realize by the end of 2026.

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: February 7, 2025

WATTS WATER TECHNOLOGIES, INC.

 

 

 

 

 

 

 

By:

/s/ Kenneth R. Lepage

 

 

Kenneth R. Lepage

 

 

General Counsel, Chief Sustainability Officer, Chief Compliance Officer & Secretary

 

v3.25.0.1
Document and Entity Information
Feb. 03, 2025
Document and Entity Information [Abstract]  
Document Type 8-K
Document Period End Date Feb. 03, 2025
Entity File Number 001-11499
Entity Registrant Name WATTS WATER TECHNOLOGIES INC
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 04-2916536
Entity Address, Address Line One 815 Chestnut Street
Entity Address, City or Town North Andover
Entity Address, State or Province MA
Entity Address, Postal Zip Code 01845
City Area Code 978
Local Phone Number 688-1811
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Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class A Common Stock, par value $0.10 per share
Trading Symbol WTS
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000795403
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Document Information
Feb. 03, 2025
Cover [Abstract]  
Document Type 8-K
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CIK 0000795403
Registrant Name WATTS WATER TECHNOLOGIES INC
Period End Date Feb. 03, 2025

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