Franklin Electric Acquires U.S. Groundwater Distribution Company
Franklin Electric Co., Inc. (FELE)
Last franklin electric co., inc. earnings: 4/28 08:00 am
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Source: GlobeNewswire
FORT WAYNE, Ind., Jan. 02, 2019 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that it has acquired Milan Supply Company of Mt. Pleasant, Michigan for $5.9 million. Milan is a professional groundwater distributor operating six locations in the State of Michigan. Milan has approximately $22 million of consolidated annual sales. DeLancey Davis, President of Headwater Companies, the wholly owned Distribution Segment of Franklin Electric, commented: “We are pleased to add Milan Supply to the Headwater family. The team at Milan has served the pump industry and related water resource markets for over 50 years and has an outstanding reputation with their customers for technical capability and service. The acquisition of Milan adds to Headwater’s commitment to the important Michigan groundwater market and further fulfills our objective of being the leading source in groundwater systems distribution in the U.S.” Headwater Companies, LLC is a collection
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