Franklin Electric acquires New Aqua
Franklin Electric Co. has acquired New Aqua, headquartered in Indianapolis, in an all-cash transaction valued at $150 million.
New Aqua is a market leading water treatment business with more than 60 years of proven market success driven by more than 230 employees and 590 independent water quality dealers within the United States. The business currently operates under the brand names Aqua Systems and Hellenbrand to manufacture and provide services for a complete line of residential and commercial water treatment and drinking water equipment. New Aqua’s consolidated annual sales in 2020 were approximately $68 million, with EBITDA (a) margins of about 17 percent.
“With this acquisition, Franklin Electric solidifies itself as a leader within the residential and light commercial water treatment space, focused on the wholesale and water quality dealer channels. We look forward to working with our suppliers, wholesale distribution partners and water quality dealers to offer high quality products and services, while also expanding Franklin Electric’s product offerings and reach as a provider of water systems solutions,” said Gregg Sengstack, chairperson and chief executive officer of Franklin Electric.
John Ackerman, former majority owner of Aqua Systems, will continue to serve as an advisor to Franklin Electric during the transition. The current management team of Aqua Systems, including its CEO, Don Line, will remain with the company.
Based in Fort Wayne, Indiana, Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and fuel. The company serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
