Franklin Electric Co Inc has acquired Milan Supply Co, a Michigan-based professional groundwater distributor, in a US$5.9 million deal.
Milan operates six locations in the State of Michigan and has approximately US$22 million of consolidated annual sales.
“We are pleased to add Milan Supply to the Headwater family,” said DeLancey Davis, president of Headwater Companies, the wholly owned Distribution segment of Franklin Electric. “The acquisition of Milan adds to Headwater’s commitment to the important Michigan groundwater market and further fulfills our objective of being the leading source in groundwater systems distribution in the US.”
Headwater Companies, a collection of groundwater distributors, launched in April 2017 with the acquisition of US distributors 2M Company, Drillers Service Inc, Western Hydro and 2MDSI. Later that year 2MDSI became Headwater Wholesale. In January 2018, Headwater Companies added Valley Farms Supply to the group.