Acquisition of Assets of CPS Pumps
Today we announced the completion of a strategic acquisition to expand Franklin Electric’s product offerings focused in the large submersible and industrial pump business segments. We have acquired the product lines and assets of CPS Pumps, along with its current manufacturing process in Rossville, Tennessee. The acquisition brings Franklin Electric a deep and diverse set of key products and expertise, including a full portfolio of line shaft turbines, split case, end suction, and ANSI-style pumps, allowing us to better serve our global customers in the agriculture irrigation, municipal, industrial, and mining markets. In addition, it will provide an opportunity to expand our presence into fire pump applications in the commercial and industrial markets.
We welcome the employees of CPS Pumps, located in Rossville, TN, into the Franklin Electric family. The business and Rossville facility will be integrated into the existing Global Water business structure. We will be immediately transitioning the business into Franklin Electric’s business systems and ramping production rates in order to serve our customers for the 2020 season. The product lines will carry the FPS product brand and will be available through our existing industrial and groundwater distribution channels.
We look forward to serving our current and new customers in these new complementary product segments and applications. Additional information on the new business will be forthcoming; please reach out to your territory manager with any questions.
President, Global Water