Behind the wall plumbing supplies group Reliance Worldwide Corporation is being considered as a counter-cyclical bet on the United States housing market, with private equity firms and potential strategic suitors using a downturn to take a fresh look.
Street Talk’s aware of a few PE firms keeping a close eye on Reliance Worldwide, following a 20 per cent drop in its market value and knowing listing markets will fret about FY23 and FY24 revenue and earnings when the long-term story remains intact.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
