SCHAFFHAUSEN, Switzerland, Oct. 1 /PRNewswire-FirstCall/ -- Tyco International Ltd. (NYSE :TYC ) today announced that the company has completed the sale of its European Waterworks business to the private equity firm Triton for approximately $245 million.
The European Waterworks business designs, manufactures and supplies equipment for commercial and residential customers in the water supply chain under a number of brand names including Erhard, Belgicast, Bayard and Atplas. The business generates about $350 million in annual revenue, has 13 manufacturing sites and employs approximately 1,500 people.
The transaction was first announced by Tyco in late July.
ABOUT TYCO INTERNATIONAL
Tyco International Ltd. (NYSE :TYC ) is a diversified, global company that provides vital products and services to customers around the world. Tyco is a leading provider of security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Tyco had 2009 revenue of more than $17 billion and has more than 100,000 employees worldwide. More information on Tyco can be found at www.tyco.com.
SOURCE Tyco International Ltd.