Franklin Electric (FELE) to Acquire Controlling Interests in Three Distributors

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 10/22/2026

1. META
2. TSLA
3. IBM
4. TXN
5. MRNA
6. LVS
7. SAP
8. CSX
9. LRCX
10. MRK

Go back to Franklin Electric (FELE) to Acquire Controlling Interests in Three Distributors

Franklin Electric Acquires U.S. Groundwater Distribution Companies

April 10, 2017 4:23 PM EDT

FORT WAYNE, Ind., April 10, 2017 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that it has reached agreement to acquire controlling interests in three distributors in the U.S. professional groundwater market.  Franklin Electric will acquire 2M Company Inc. of Billings, Montana; Western Hydro Holding Corporation of Hayward, California and Drillers Service, Inc. (DSI) of Hickory, North Carolina for approximately $89 million in the aggregate, which includes assumed debt.  The 2M and Western Hydro transactions have closed and the Company expects the DSI acquisition to close before the end of the second quarter... More