Moen has announced it has taken a majority ownership stake in Flo Technologies. The new ownership stake is an evolution of the two companies’ work together. They’ve already partnered to develop the Flo by Moen Smart Water Security System, which provides homeowners with a smartphone-controlled security system that protects against leaks and water damage incidents, which are the leading cause of preventable homeowner insurance claims each year.
Done in several phases, the deal accelerates Moen’s ability to provide water management services to consumers.
Related: Hands On – FLO by Moen
“The Flo by Moen System gives homeowners the power to understand and manage their water like never before — identifying drips and leaks sometimes as small as a drip a minute,” says Mark-Hans Richer, chief marketing and innovation officer, Moen. “Once you’ve experienced this unprecedented level of control over your water, the way you think about and experience water in your home is never the same.”
Flo Technologies CEO Gabriel Halimi sees the potential in the partnership as a substantial opportunity for both companies and the next step in providing consumers with market-leading water security and management technology.
“Moen is the leader in water delivery in the home,” says Halimi. “We are the leader in water management in the home. Bringing the two together enables us to change the entire industry, combining Moen’s more than 80 years of expertise with our technology to provide a whole-home water management solution that can help homeowners save money and avoid what is often the costliest and most life-disrupting disaster you can experience in your home.”
Flo by Moen is just one of the products in Moen’s portfolio of smart home offerings, which also includes the U by Moen Smart Shower and Smart Faucet — both of which allow consumers to personalize their experience with water.
Combined with Moen’s other connected products and innovations, the Flo by Moen System also supports the achievement of Moen’s aggressive sustainability goal — known as Mission Moen — which is a commitment to save one trillion gallons of water by 2030.
A recent study with Lexis Nexis showed that one year following installation of the Flo by Moen Smart Water Shutoff, homes saw a 96 percent decrease in paid water leak claims compared to two years prior to installation — while control group home claims increased 10 percent in this same period.
For more information, visit moen.com.