Franklin Electric Acquires U.S. Groundwater Distribution Company
Fort Wayne, IN – Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that on December 31, 2023, its wholly owned subsidiary Headwater Companies, LLC acquired substantially all of the assets of LCA Pump, LLC, a Missouri limited liability company, which operates Water Works Pump. Water Works is a professional groundwater distributor located in Springfield, MO, and will operate as a branch of Headwater Wholesale, LLC, a subsidiary of Headwater Companies.
DeLancey Davis, President of Headwater Companies, commented:
“We are excited to welcome Water Works to the Headwater Wholesale family. With over three decades of dedicated service to the pump industry and water resource markets, Water Works has earned a stellar reputation for delivering high-quality service. The addition of Water Works aligns with Headwater's dedication to extending its reach, ensuring exceptional service, and reinforcing support for contractors and drillers in the Midwest. This strategic move marks Headwater's inaugural venture into the Missouri market, aligning with our overarching goal of becoming the leading distributor of water systems solutions in the United States."