Newport Beach-based Water Pik Technologies Inc. said Friday it completed the sale of its Laars Heating Systems business to Ambler, Pa.-based Bradford White Corp. for $24.3 million.
As part of the sale, heating products maker Bradford White gets a plant in Rochester, N.H., and a distribution center near Toronto.
Water Pik first said it planned to sell Laars in early June. The company said the sale helps it focus on its remaining businesses, personal health care and pool products.
The sale comes after the company said in January it was launching a strategic review of its operations. Sales had slid more than 7% year-over-year in the fourth quarter, while profits rose nearly 5%.
The sale shouldn’t have a material impact on operating income for the remainder of fiscal year 2005 (which ends in the fall) other than the effect of recording the transaction, the company said.
