Franklin Electric Acquires Water Treatment Company
Fort Wayne, IN – November 2, 2020 – Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that it has acquired Waterite Inc. and its affiliate Waterite America Inc., headquartered in Winnipeg, Manitoba, Canada, in an all cash transaction. Waterite is a residential and commercial water treatment products and services provider in Canada and the United States. Waterite's consolidated annual sales are approximately USD $22 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 Waterite to our water treatment businesses. Waterite has served the Canadian water treatment market and their customers for almost 40 years with innovative products and best in class customer service and support and has recently entered the United States market as well. We are confident we can leverage their expertise to grow our water treatment capabilities in both Canada and the United States.”
Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and fuel. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications.
