Brookfield has agreed to acquire 100 percent of Reliance Worldwide, a global manufacturer of plumbing and heating solutions, through its flagship private equity strategy. The all-cash proposal values Reliance at $3.38 per share, representing an enterprise value of approximately $2.8 billion. Reliance's board has unanimously recommended the deal to shareholders, who will vote on the agreement.

Headquartered in the US, Reliance operates across the Americas, Europe and the Middle East, and Asia Pacific. The company is the market leader in push-to-connect fittings for plumbing systems, with category-defining brands across its core regions; the segment remains underpenetrated relative to traditional joining methods. Brookfield also pointed to an established model for expanding non-push-to-connect products to existing customers through Reliance's position with major retailers and the wholesale channel, along with resilient cash flows underpinned by recurring replacement demand in aging housing stocks. "Reliance is the type of business we look for – a global, market-leading industrial company with strong brands, durable customer relationships and clear opportunities to create value through investment in operations and continued product expansion," said Anuj Ranjan, CEO of Brookfield's Private Equity group.

The investment will be funded through the Brookfield Capital Partners strategy and its affiliate Brookfield Business. The transaction is expected to close in the first quarter of 2027.