Cummins-Wagner Co. Inc., an Annapolis Junction, Maryland-based distributor, announced this week it has acquired F.R. Mahony & Associates Inc. Financial terms of the deal weren’t disclosed.
Cummins-Wagner is a distributor of municipal water and wastewater equipment, industrial process equipment and HVAC equipment in the mid-Atlantic region. FRMA specializes in small wastewater systems from single-family homes to very large systems for commercial and municipal projects.
The company said the transaction is a “key part of Cummins-Wagner’s business strategy of steady, manageable growth through market penetration and acquisition.
“The combination of Cummins-Wagner and FRMA creates a Company with greater scale and resources to continue and expand our ability to provide experienced engineered sales & service in water and wastewater treatment applications,” said Doug Ardinger, president and CEO of Cummins-Wagner.
“Teaming up with Cummins-Wagner brings stability for the future of the company,” said Ed Quann, President of FRMA. “It will provide resources to ensure FRMA will continue to grow and continue to thrive.”
All of FRMA employees have transferred over and will become part of Cummins-Wagner’s 100% Employee Stock Ownership Plan (ESOP).
“The ESOP is a tremendous benefit and we are excited to have FRMA personnel become fellow employee owners and participate in the future success of the company,” said David Palmer, VP/CFO of Cummins-Wagner.