Home Depot To Acquire National Waterworks

Home Depot, Atlanta, Ga., the world’s largest home improvement retailer, has agreed to acquire National Waterworks Holdings for $1.35 billion.

National Waterworks Holdings, Inc., Waco, Texas, is a distributor of products used to build, repair and maintain water and wastewater transmission systems. National, which had 2004 revenues of $1.5 billion and has a nine-year history of 9-percent compounded annual growth rate in sales, will operate as part of The Home Depot Supply.

National Waterworks is principally owned by JPMorgan Partners, a private equity affiliate of JPMorgan Chase & Co., and Thomas H. Lee Partners, L.P.