Waterman Industries, Inc. and Waterman Industries Sales, Inc. announced the completion of a stock redemption and recapitalization transaction, purchasing all of the outstanding shares owned by Visalia, California resident, Carol Trapp. Waterman is a premier manufacturer of cast iron, steel, brass and aluminum valves, gates and related items used to control the flow of water.

Duff & Phelps, LLC, a Chicago-based investment banking and financial advisory firm served as exclusive financial advisor to Waterman and its shareholders.