{"id":470023,"date":"2021-04-01T15:03:26","date_gmt":"2021-04-01T19:03:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470023"},"modified":"2021-04-01T15:03:26","modified_gmt":"2021-04-01T19:03:26","slug":"franklin-electric-acquires-water-treatment-company-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/franklin-electric-acquires-water-treatment-company-2\/","title":{"rendered":"Franklin Electric Acquires Water Treatment Company"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">FORT WAYNE, Ind., April  01, 2021  (GLOBE NEWSWIRE) &#8212; Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that it has acquired Puronics, Inc. and its wholly owned subsidiaries, headquartered in Livermore, California, in an all-cash transaction. Puronics is a residential and commercial water treatment products and services provider operating four company owned service centers and serving approximately 133 independent water quality dealers with approximately 260 locations in 31 states. Puronics\u2019 consolidated annual sales are approximately USD $24 million.<\/p>\n<p>Don Kenney, President of Franklin Electric\u2019s global Water Systems business, commented:<\/p>\n<p>\u201cWe have identified water treatment as a strategic adjacency to our leading ground water pumping position globally. We are pleased to add Puronics\u2019 strong market presence, quality focus and customer-service oriented approach to our water treatment businesses. Puronics has a rich 70-year history as a leading provider of premium residential and commercial water treatment systems, and the acquisition will expand our channel, product, and geographic offerings in the United States. I would like to thank Scott Batiste, the retiring Chairman and CEO of Puronics, for his strong support during this transition, and would like to welcome the Puronics employees to the Franklin Electric family.\u201d<\/p>\n<p>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.<\/p>\n<p>&#8220;Safe Harbor\u201d Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company\u2019s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company\u2019s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,\u00a0 raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company\u2019s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company\u2019s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company\u2019s Annual Report on Form 10-K for the fiscal year ending December 31, 2020, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company\u2019s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.<\/p>\n<table style=\"border-collapse: collapse;width:70%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:12%;width:12%;min-width:12%\">Contact:<\/td>\n<td style=\"max-width:88%;width:88%;min-width:88%\">John J. Haines<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>Franklin Electric Co., Inc.<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>260-824-2900<\/td>\n<\/tr>\n<\/table>\n<p>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDQ1NSM0MTAwODk4IzIwMTg5ODY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/22a76acd-6618-4e49-b439-f8336e0a6b90\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FORT WAYNE, Ind., April 01, 2021 (GLOBE NEWSWIRE) &#8212; Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that it has acquired Puronics, Inc. and its wholly owned subsidiaries, headquartered in Livermore, California, in an all-cash transaction. Puronics is a residential and commercial water treatment products and services provider operating four company owned service centers and serving approximately 133 independent water quality dealers with approximately 260 locations in 31 states. Puronics\u2019 consolidated annual sales are approximately USD $24 million. Don Kenney, President of Franklin Electric\u2019s global Water Systems business, commented: \u201cWe have identified water treatment as a strategic adjacency to our leading ground water pumping position globally. We are pleased to add Puronics\u2019 strong market presence, quality focus and customer-service oriented &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/franklin-electric-acquires-water-treatment-company-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Franklin Electric Acquires Water Treatment Company&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-470023","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Franklin Electric Acquires Water Treatment Company - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/franklin-electric-acquires-water-treatment-company-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Franklin Electric Acquires Water Treatment Company - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FORT WAYNE, Ind., April 01, 2021 (GLOBE NEWSWIRE) &#8212; Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that it has acquired Puronics, Inc. and its wholly owned subsidiaries, headquartered in Livermore, California, in an all-cash transaction. Puronics is a residential and commercial water treatment products and services provider operating four company owned service centers and serving approximately 133 independent water quality dealers with approximately 260 locations in 31 states. Puronics\u2019 consolidated annual sales are approximately USD $24 million. Don Kenney, President of Franklin Electric\u2019s global Water Systems business, commented: \u201cWe have identified water treatment as a strategic adjacency to our leading ground water pumping position globally. We are pleased to add Puronics\u2019 strong market presence, quality focus and customer-service oriented &hellip; Continue reading &quot;Franklin Electric Acquires Water Treatment Company&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/franklin-electric-acquires-water-treatment-company-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-01T19:03:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDQ1NSM0MTAwODk4IzIwMTg5ODY=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/franklin-electric-acquires-water-treatment-company-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/franklin-electric-acquires-water-treatment-company-2\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Franklin Electric Acquires Water Treatment Company\",\"datePublished\":\"2021-04-01T19:03:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/franklin-electric-acquires-water-treatment-company-2\\\/\"},\"wordCount\":468,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/franklin-electric-acquires-water-treatment-company-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxMDQ1NSM0MTAwODk4IzIwMTg5ODY=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/franklin-electric-acquires-water-treatment-company-2\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/franklin-electric-acquires-water-treatment-company-2\\\/\",\"name\":\"Franklin Electric Acquires Water Treatment Company - 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