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Bessemer Investors Announces Sale of Leonard Valve Company to A. O. Smith Corporation

On Jan. 6, 2026, A. O. Smith Corporation completed the acquisition of LVC Holdco LLC for $470 million from Bessemer Investors LLC, the companies announced in New York.
The deal follows Leonard Valve, founded in 1911, expanding via Heat‑Timer, as A. O. Smith aims to enhance its water‑technology and hydronic control capabilities.
BofA Securities served as exclusive financial advisor and Foley & Lardner LLP as legal advisor to A. O. Smith, while Jefferies LLC and Robert W. Baird & Co. advised Bessemer Investors, with Sidley Austin LLP as legal counsel.
David Brakenwagen said `Bessemer has been a highly supportive and value-added partner for Leonard Valve`, while Niles Wilcox welcomed A. O. Smith as steward of Leonard Valve's legacy.
Public disclosures show an approximate $412 million adjusted valuation after estimated tax benefits and note funding via a new credit agreement; A. O. Smith Corporation signed the deal on Nov. 12, 2025.

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Bessemer Investors Announces Sale of Leonard Valve Company to A. O. Smith Corporation

NEW YORK, Jan. 6, 2026 /PRNewswire/ -- Leonard Valve Company ("Leonard Valve" or the "Company"), a leading provider of water temperature and flow control solutions, and Bessemer Investors LLC ("Bessemer"), a New York-based investment firm, today announced that Bessemer has…

2 days ago·Flint, United States

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Hot water safety pioneer Leonard Valve is now part of A. O. Smith

Founded in 1911, Leonard Valve joins A. O. Smith after Bessemer’s 2019 investment, portfolio expansion and the Heat-Timer acquisition in water and heating controls.

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