SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                    FORM 8-K

                Current Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): December 22, 1997




                                   AMTROL Inc.
             (Exact name of registrant as specified in its charter)



       Rhode Island                    0-20328                    05-0246955
(State or other jurisdiction        (Commission File           (I.R.S. Employer
      of incorporation)                 Number)              Identification No.)


 1400 Division Road, West Warwick, Rhode Island                          02893
      (Address of principal executive offices)                       (Zip Code)



                                 (401) 884-6300
              (Registrant's telephone number, including area code)








Item 2.  Acquisition or Disposition of Assets.

         (a) On December 22, 1997, AMTROL Inc. ("Amtrol") completed its purchase
of all of the  outstanding  capital  shares of  Petroleo  Mecanica  Alfa,  SA, a
corporation  organized  under the laws of  Portugal  ("Alfa")  for an  aggregate
purchase price of $25,500,000 (in United Stated dollars) (the  "Acquisition") in
accordance with the terms of that certain Promissory  Agreement dated as of June
30, 1997 by and between Amtrol and Antonio Brandao Miranda,  previously reported
on Form 8-K dated  June 30,  1997.  As of  December  22,  1997,  Alfa  became an
indirect wholly-owned subsidiary of Amtrol.

         Alfa is a leading  designer  and  manufacturer  of  reusable  steel gas
cylinders  used for heating and  refrigerant  gasses and  maintains a production
facility in  Guimaraes,  Portugal.  Amtrol  intends to  integrate  Alfa into its
existing business of manufacturing and distributing water and HVAC systems.

         In connection with the Acquisition, Amtrol entered into an amendment to
its existing Bank Credit  Agreement  pursuant to which $20 million of borrowings
under its Revolving Credit Facility were converted to additional  Tranche B Term
Loans. Accordingly, Amtrol currently has outstanding $64.1 million of term loans
consisting of $19.4 million of Tranche A Term Loans which mature on November 13,
2001, with quarterly amortization during their term and $44.7 million of Tranche
B Term Loans which mature May 13,  2004,  with  nominal  quarterly  amortization
payments prior to Tranche A Term Loans and with the remaining amounts amortizing
on a quarterly basis  thereafter.  The Bank Credit Agreement,  as amended,  also
provides a $30 million  Revolving Credit Facility of which up to $20 million may
be used to finance permitted acquisitions.

Item 7. Exhibits

     (a) Not Applicable

     (b) Not Applicable

     (c) Second Amendment to Bank Credit Agreement dated as of December 12,1997.






                                   SIGNATURES

         Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                                      AMTROL Inc.
                                                      (Registrant)



Date: January 6, 1998                           By:      s/ Edward J. Cooney
                                                      -------------------------
                                                         Edward J. Cooney
                                                         Chief Financial Officer