Brookfield to Acquire Reliance Worldwide for $2.9B in All-Cash Deal

Brookfield Asset Management agreed to acquire Australian hydraulic materials manufacturer Reliance Worldwide in an all-cash deal valued at $2.9 billion. The acquisition signals continued private equity appetite for industrial infrastructure assets, though regulatory and shareholder approvals remain pending. The deal could bolster Brookfield's industrial portfolio and may have implications for supply chains in hydraulic components.