Core & Main Completes Acquisition of CES Industrial Piping Supply, LLC

Rhea-AI Summary

Core & Main, Inc. (NYSE: CNM) announced the completion of its acquisition of CES Industrial Piping Supply, enhancing its fusible HDPE product range in the Midwest. This strategic move allows Core & Main to leverage CES's expertise in fusible pipe applications, catering to various industries such as industrial, oil and gas, and wastewater management. The acquisition aligns with Core & Main's commitment to providing advanced solutions and expanding its market presence, while welcoming CES's skilled team into its operations.

Positive

• Acquisition of CES Industrial Piping Supply enhances Core & Main's fusible HDPE product offerings.
• Strengthens market presence in the Midwest and provides expertise in fusible pipe applications.
• Diversifies customer base across multiple industries, including oil and gas and wastewater.

Negative

• None.

Expands Fusible HDPE Products and Service Offerings

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 CES Industrial Piping Supply, LLC, located in Belton, Missouri.

“The acquisition of CES Industrial Piping Supply expands Core & Main’s fusible HDPE product and service offerings in the Midwest. We are excited to grow our team in that region and provide customers with added expertise in fusible pipe applications,” said Steve LeClair, chief executive officer of Core & Main.

HDPE (high-density polyethylene) is tough, durable, flexible, corrosion free and chemical resistant. Its distinctive properties allow for it to be used in a broad range of applications including municipal, industrial, landfill, geothermal, mining, and more.

“We are pleased to welcome the CES Industrial Piping Supply associates into the Core & Main family,” said Jack Schaller, president of Core & Main Waterworks. “This group has a great reputation in the fusible HDPE industry and we are eager to have them on our team.”

Founded in 1997, CES Industrial Piping Supply offers a full line of fusible HDPE pipe, fittings and fusion machines. The team serves various markets including the industrial, oil and gas, water, wastewater, wind energy, landfill, mining, environmental and power plant industries.

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/20211006006000/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 recent acquisition by Core & Main (CNM)?

Core & Main has acquired CES Industrial Piping Supply, which expands its fusible HDPE product offerings.

How does the acquisition of CES Industrial Piping Supply benefit Core & Main?

The acquisition enhances Core & Main's expertise in fusible pipe applications and strengthens its market presence in the Midwest.

What industries will Core & Main serve better after the CES acquisition?

Core & Main will serve industries including industrial, oil and gas, water, and wastewater more effectively.

Where is CES Industrial Piping Supply located?

CES Industrial Piping Supply is located in Belton, Missouri.

What are the strategic implications of the CNM acquisition?

The acquisition is expected to diversify Core & Main's customer base and enhance its product offerings in the fusible HDPE market.