AcquisitionsOct 28, 2026, 01:21 PM
Franklin Electric Acquires Cat Pumps for $351.1M; Q3 Net Income Soars to $61.0M
AI Summary
Franklin Electric Co., Inc. announced its third-quarter results, highlighted by the significant acquisition of Cat Pumps for $351.1 million. This strategic move aims to enhance the company's high-pressure technology offerings. The company also completed other acquisitions in 2026, including Maynard's Water Conditioning and Wood Brothers Industries. Financially, Franklin Electric reported a substantial increase in net sales to $633.6 million and net income to $61.0 million for the third quarter, compared to the prior year. The balance sheet reflects considerable growth in total assets and a notable increase in long-term debt, primarily to support these strategic acquisitions.
Key Highlights
- Franklin Electric acquired Cat Pumps for $351.1 million, adding complementary high-pressure technology.
- The Cat Pumps acquisition contributed $7.7 million in net sales and a $2.3 million net loss in Q3 2026.
- Franklin Electric also acquired Maynard's Water Conditioning for $13.0 million and Wood Brothers Industries for $49.9 million in 2026.
- Total assets acquired and liabilities assumed for Cat Pumps were $351.1 million, including $145.0 million in intangible assets and $161.3 million in goodwill.
- Net sales for Q3 2026 increased to $633.6 million, up from $581.7 million in Q3 2025.
- Net income for Q3 2026 was $61.0 million, a significant increase from $17.2 million in Q3 2025.
- Total assets grew to $2.64 billion as of September 30, 2026, from $1.94 billion as of December 31, 2025, largely due to acquisitions.
- Long-term debt increased to $433.5 million from $135.2 million, primarily to fund acquisitions.
Price Impact
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