Brookfield Business Corporation will take part in Brookfield's proposed acquisition of Reliance Worldwide Corporation, a deal announced September 15 that values the plumbing-products manufacturer at approximately US$2.8 billion in enterprise value, excluding lease liabilities, with the investment group planning to acquire 100% ownership. Funding will come through the Brookfield Capital Partners strategy and Brookfield Business Corporation, though the listed company's capital contribution and ownership percentage remain undisclosed, so the overall enterprise value should not be treated as its investment. Brookfield Capital Partners VII L.P. has committed up to US$1.5 billion of equity to the bidding vehicle, while lenders committed up to US$1.65 billion, comprising a US$1.35 billion senior secured first-lien term facility and an asset-based revolving facility with capacity of up to US$300 million. Reliance's board unanimously recommends the deal in the absence of a superior proposal, and completion is expected in the first quarter of 2027, subject to shareholder, court, regulatory and government approvals; Reliance can solicit alternatives through October 16, 2026, under the corrected go-shop timetable. Reliance reported fiscal 2026 net sales of approximately US$1.306 billion, down 0.7%, with management citing weak U.S. and U.K. end markets, tariffs, and input-cost inflation as pressures.
Brookfield Asset Management Ltd.
Brookfield Business Corp
Reliance Steel & Aluminum Co
