Ground Water Canada

News
Franklin Electric expands in Brazil with Bombas Leao buy


June 16, 2014
By Ground Water Canada

June 17, 2014, Brazil – Franklin Electric
recently acquired Brazilian company Bombas Leao S.A. for an undisclosed
sum. The company expects the acquisition to prove accretive
to its 2014 earnings.

June 17, 2014, Brazil – Franklin Electric
recently acquired Brazilian company Bombas Leao S.A. for an undisclosed sum. The company expects the acquisition to prove accretive
to its 2014 earnings.

The decision to acquire Bombas Leao S.A is a strategic move by Franklin
to strengthen its presence in Brazil, which is one of the largest ground water
pumping markets in the world and a foundation of the company’s
developing markets growth strategy. The acquisition will not only
complement Franklin’s existing water systems segment’s business but is
also expected to expand the company’s offering in the submersible pump
products market while expanding its distribution reach.

Prior to this buyout, the company had acquired another Brazilian
company, Motobombas Schneider, a manufacturer of residential pumping systems
with an extensive distribution network.

Sao Paulo, Brazil-based Bombas Leao S.A primarily designs, manufactures
and distributes submersible ground water pumping equipment through
manufacturing facilities in Monte Azul Paulista, Teresina and a
distribution firm in Recife. In 2013, its net revenue came in at
approximately BRL 67 million or about US$30 million.