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Franklin Electric Co. Inc. (Nasdaq: FELE), Bluffton, IN, has acquired three groundwater distributon companies for a total of $89 million. It acquired 2M Co. Inc., Billings, MT, Western Hydro Holding Corp., Hayward, CA, and Drillers Service Inc., Hickory, NC.
“The specialized groundwater distribution channel in the U.S. through which we sell our products is an important element in the ultimate sale, support and specification to the installing contractors," said Gregg Sengstack, Franklin Electric’s CEO. "Working in partnership with our distributors, Franklin Electric has developed a broad array of products and systems solutions that will only grow as regulatory and efficiency demands increase in North America."