Franklin Electric Acquires Water Treatment Company
/EIN News/ FORT WAYNE, Ind., April 01, 2021 (GLOBE NEWSWIRE) Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that it has acquired Puronics, Inc. and its wholly owned subsidiaries, headquartered in Livermore, California, in an all-cash transaction. Puronics is a residential and commercial water treatment products and services provider operating four company owned service centers and serving approximately 133 independent water quality dealers with approximately 260 locations in 31 states. Puronics’ consolidated annual sales are approximately USD $24 million.
Don Kenney, President of Franklin Electric’s global Water Systems business, commented:
“We have identified water treatment as a strategic adjacency to our leading ground water pumping position globally. We are pleased to add Puronics’ strong market presence, quality focus and customer-service oriented approach to our water treatment businesses. Puronics
Franklin Electric Acquires Water Treatment Company streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Franklin Electric Reports Fourth Quarter 2020 Sales and Earnings Conference Call. [Operator Instructions] After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]
I would now like to hand the conference to your speaker today, John Haines, our Chief Financial Officer. Please go ahead, sir.
John J. Haines
Vice President, Chief Financial Officer
Thank you, Joel. And welcome everyone to Franklin Electric s fourth quarter 2020 earnings conference call. With me today is Gregg Sengstack, our Chairperson and CEO. On today s call, Gregg will review our fourth quarter and full-year business highlights, and I will review our fourth quarter financial results in more detail. When I m through, we ll have some time for questions-and-answers.
Franklin Electric Schedules its Fourth Quarter and Fiscal Year 2020 Earnings Release and Conference Call einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.