Core & Main Completes Acquisition of Inland Water Works Supply Co.

Rhea-AI Summary

Core & Main, Inc. (NYSE: CNM) has finalized its acquisition of Inland Water Works Supply Co., enhancing its presence in Southern California. This strategic move aims to bolster customer service and expand their product offerings in the water and wastewater distribution sector. Inland Water Works Supply has a strong history of customer relations, which aligns with Core & Main's commitment to service excellence. The acquisition is expected to strengthen Core & Main's market position, supporting its growth in municipal and utility markets.

Positive

• Acquisition of Inland Water Works Supply expected to enhance Southern California market presence.
• Strengthened customer service capabilities through the addition of Inland Water Works Supply's established customer relationships.

Negative

• None.

ST. LOUIS--(BUSINESS WIRE)-- Core & Main, Inc., (NYSE: CNM), a leading specialized distributor of water, wastewater, storm drainage, fire protection products and related services, has closed its previously announced acquisition of substantially all of the assets of Inland Water Works Supply Co., a full-service distributor of water and wastewater products, based in San Bernardino, California.

“We look forward to strengthening our team in Southern California with the addition of Inland Water Works Supply,” said Steve LeClair, chief executive officer of Core & Main. “With their location in the San Bernardino area, we gain an enhanced presence in the local market, and we are excited to continue providing all of our customers with the same excellent customer service they’ve come to expect from Inland Water Works Supply.”

Inland Water Works Supply has grown its business over the years through attention to detail and commitment to outstanding customer service to meet the demands of the waterworks industry. It offers a broad array of water and wastewater materials to satisfy the needs of its customers in the municipal and utility markets.

“It has been obvious from the beginning that Inland Water Works Supply’s focus on building exceptional customer relationships and taking care of its employees makes it a great fit with Core & Main,” said Jack Schaller, president of Core & Main Waterworks. “I am excited to welcome them to the Core & Main family.”

Established in 1952, Inland Water Works Supply provides quality products for new water and sewer construction as well as for the maintenance and repair of existing water and sewer systems to municipalities and contractors throughout Southern California. The company’s facility is located in San Bernardino, California.

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 300 locations, the company provides its customers local expertise backed by a national supply chain. Core & Main’s 4,100 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/20220808005713/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 significance of Core & Main's acquisition of Inland Water Works Supply?

The acquisition enhances Core & Main's market presence in Southern California and improves customer service offerings.

What are the main products offered by Inland Water Works Supply?

Inland Water Works Supply offers a broad range of water and wastewater products for municipal and utility markets.

When was the acquisition of Inland Water Works Supply completed?

The acquisition by Core & Main was completed recently, as announced in the press release.

How will the acquisition impact Core & Main's operations?

It is expected to strengthen Core & Main's operational capabilities and customer relationships in Southern California.

What does Core & Main aim to achieve with this acquisition?

Core & Main aims to expand its product offerings and enhance its customer service through this acquisition.