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Reliance Worldwide Corporation (RWC) acquired Cash Acme, the world's largest volume temperature and pressure valve manufacturer, 20 years ago, May 31, 2002. The 2002 acquisition helped jumpstart RWC's transition from an Australian private company to a publicly traded global leader in water control systems and plumbing solutions.
"The acquisition of Cash Acme provided RWC a foothold in the North American market and has greatly contributed to the company's overarching success these past 20 years," said Sean McClenaghan, CEO of Reliance Worldwide Corporation, Americas. "This strategic move paved the way for organic growth, provided a platform for additional M&A activity and facilitated expanding our manufacturing and distribution capabilities stateside."
Since Cash Acme joined the RWC portfolio, the company has grown from 70 employees to more than 1,000 in North America and from $12 million to nearly $1 billion in revenue, helping RWC grow into a $1.4 billion company. Since Cash Acme's acquisition, RWC has grown to include several other brands. It introduced SharkBite push-to-connect fittings to North America in 2004 and acquired HoldRite in 2017, John Guest in 2018 and the EZ-FLO and Eastman brands in 2021.
All these investments gave RWC a more extensive distribution footprint in the Americas, accelerating entry into the U.S. and Canadian residential and commercial new construction markets. It also further enhanced the company's fulfillment and service capabilities while expanding its offering of high-quality products.
"For over 20 years, the core strategy focused on product leadership and customer partnership has allowed us to create this amazing business," said Heath Sharp, Reliance Worldwide Corporation, Group CEO. "RWC and Cash Acme's growth is driven by creating solutions that allow the plumbing trade to be more efficient and effective. Our capabilities, underpinned by our culture, allow us to continue to grow as a leader in the industry."
Cash Acme produces a robust range of potable and non-potable water plumbing products, specializing in pressure, thermostatic and temperature control valves designed to safeguard water systems in all types of facilities, including residential and commercial sectors. During the 20 years since Cash Acme's acquisition, the brand has continued to introduce innovations, including thermostatic mixing valves for safe and comfortable water temperature and easy-to-service pressure reducing valves with replaceable cartridges.