Core & Main Completes Acquisition of Catalone Pipe & Supply

Rhea-AI Summary

Core & Main (NYSE: CNM) has completed the acquisition of substantially all assets of Catalone Pipe & Supply Co. based in Pennsylvania. This strategic move aims to enhance Core & Main's waterworks product offerings in the Northeast region, leveraging Catalone's expertise in custom concrete catch basins. The acquisition is expected to bolster customer service and efficiency in project delivery, aligning with Core & Main's commitment to sustainable infrastructure.

Positive

• Acquisition expands Core & Main's waterworks product offerings in the Northeast region.
• Enhances local expertise with Catalone's specialized knowledge in concrete catch basins.
• Improves customer service and timely delivery capabilities.

Negative

• None.

Expands Waterworks Footprint

ST. LOUIS--(BUSINESS WIRE)-- Core & Main, Inc., (NYSE: CNM) (together with its subsidiaries, “Core & Main”), a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, has closed its previously announced acquisition of substantially all of the assets of Catalone Pipe & Supply Co., based in Pennsylvania.

“The acquisition of Catalone Pipe & Supply allows Core & Main to grow our waterworks product offerings in the Northeast region and provide customers with added expertise,” said Steve LeClair, chief executive officer of Core & Main.

Catalone Pipe & Supply is known for manufacturing custom concrete catch basins in accordance with their customers’ specifications, allowing them to lower project costs and increase efficiency on job sites.

“We are pleased to welcome the Catalone Pipe & Supply associates into the Core & Main family,” said Jack Schaller, president of Core & Main Waterworks. “They get what we mean about the importance of local expertise in water infrastructure. The team offers a breadth of understanding in waterworks products, in particular manufacturing custom concrete catch basins to meet exact specifications.”

Founded in 1985, Catalone Pipe & Supply offers a wide variety of water, wastewater, electrical conduits and concrete catch basins, among many other products, and distinguishes itself by supplying its customers with excellent customer service and timely deliveries. Concrete catch basins are an important part of stormwater drainage systems – absorbing water runoff and preventing flooding to the surrounding terrain. Catalone Pipe’s facility is located in Penfield, Pennsylvania.

About Core & Main
Based in St. Louis, Core & Main is a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. With more than 285 locations, the company provides its customers local expertise backed by a national supply chain. Core & Main’s 3,700 associates are committed to helping their communities thrive with safe and sustainable infrastructure. Visit coreandmain.com to learn more.

Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Core & Main’s financial and operating outlook, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211108006111/en/

Investor Relations:

Robyn Bradbury, 314-995-9116

InvestorRelations@CoreandMain.com

Media Relations:

Jennifer Noonan, 314-750-9670

Jennifer.Noonan@CoreandMain.com

Source: Core & Main, Inc.

FAQ

What is the value of the acquisition of Catalone Pipe & Supply by Core & Main?

The specific financial details of the acquisition value are not disclosed in the press release.

How will the acquisition of Catalone Pipe & Supply impact Core & Main's operations?

The acquisition is expected to improve Core & Main's product offerings and customer service capabilities in the Northeast region.

What products does Catalone Pipe & Supply manufacture?

Catalone Pipe & Supply is known for manufacturing custom concrete catch basins along with various water and wastewater products.

When did Core & Main announce the acquisition of Catalone Pipe & Supply?

Core & Main announced the acquisition on November 8, 2021.

What is the strategic importance of the acquisition for Core & Main?

The acquisition allows Core & Main to enhance its presence and product offerings in the Northeast market while leveraging local expertise.