Franklin Electric Acquires U.S. Groundwater Distribution Company
January 02 2024 - 4:00PM
Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that on
December 31, 2023, its wholly owned subsidiary Headwater Companies,
LLC acquired substantially all of the assets of LCA Pump, LLC, a
Missouri limited liability company, which operates Water Works
Pump. Water Works is a professional groundwater distributor located
in Springfield, MO, and will operate as a branch of Headwater
Wholesale, LLC, a subsidiary of Headwater Companies.
DeLancey Davis, President of Headwater Companies, commented:
“We are excited to welcome Water Works to the Headwater
Wholesale family. With over three decades of dedicated service to
the pump industry and water resource markets, Water Works has
earned a stellar reputation for delivering high-quality service.
The addition of Water Works aligns with Headwater's dedication to
extending its reach, ensuring exceptional service, and reinforcing
support for contractors and drillers in the Midwest. This strategic
move marks Headwater's inaugural venture into the Missouri market,
aligning with our overarching goal of becoming the leading
distributor of water systems solutions in the United States."
Headwater Companies, LLC is a collection of leading distributors
focused on groundwater, wastewater, water treatment and other
products and services in water equipment markets. It delivers
quality products and leading brands to the industry, providing
contractors with the availability and service they demand to meet
their application challenges.
About Franklin ElectricFranklin Electric is a
global leader in the production and marketing of systems and
components for the movement of water and energy. Recognized as a
technical leader in its products and services, Franklin Electric
serves customers around the world in residential, commercial,
agricultural, industrial, municipal, and fueling applications.
Franklin Electric is proud to be named in Newsweek’s lists of
America’s Most Responsible Companies and Most Trustworthy Companies
for 2023 and America’s Climate Leaders 2023 by USA Today.
"Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995. Any forward-looking statements contained
herein, including those relating to market conditions or the
Company’s financial results, costs, expenses or expense reductions,
profit margins, inventory levels, foreign currency translation
rates, liquidity expectations, business goals and sales growth,
involve risks and uncertainties, including but not limited to,
risks and uncertainties with respect to general economic and
currency conditions, various conditions specific to the Company’s
business and industry, weather conditions, new housing starts,
market demand, competitive factors, changes in distribution
channels, supply constraints, effect of price increases, raw
material costs, technology factors, integration of acquisitions,
litigation, government and regulatory actions, the Company’s
accounting policies, future trends, epidemics and pandemics, and
other risks which are detailed in the Company’s Securities and
Exchange Commission filings, included in Item 1A of Part I of the
Company’s Annual Report on Form 10-K for the fiscal year ending
December 31, 2022, Exhibit 99.1 attached thereto and in Item 1A of
Part II of the Company’s Quarterly Reports on Form 10-Q. These
risks and uncertainties may cause actual results to differ
materially from those indicated by the forward-looking statements.
All forward-looking statements made herein are based on information
currently available, and the Company assumes no obligation to
update any forward-looking statements.
CONTACT:
Sandy Statzer
Franklin Electric Co., Inc.
InvestorRelations@fele.com
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