Core & Main Completes Acquisition of Ohio-Based Waterworks Company

Rhea-AI Summary

Core & Main (NYSE: CNM) has completed its acquisition of the municipal waterworks division of Trumbull Industries, Inc., enhancing its market presence in Ohio and Pennsylvania. This deal includes assets from Trumbull's affiliated entity, a supplier of specialty products. CEO Steve LeClair emphasized the acquisition's strategic importance for improving customer service and product offerings. The municipal division operates through four branches in Ohio and Pennsylvania, reinforcing Core & Main’s commitment to infrastructure needs across these regions.

Positive

• Acquisition enhances market presence in Ohio and Pennsylvania.
• Strengthens product offerings and local service capabilities.
• Trumbull's long-standing reputation supports Core & Main's customer service commitment.

Negative

• None.

ST. LOUIS--(BUSINESS WIRE)-- Core & Main, Inc., (NYSE: CNM), 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 the municipal waterworks division of Trumbull Industries, Inc., as well as the assets of an affiliated entity, a supplier of specialty and private label products for the municipal and industrial markets, based in Ohio.

“We are thrilled to expand our presence in Ohio and Pennsylvania,” said Steve LeClair, chief executive officer of Core & Main. “The local knowledge and expertise their team brings enable us to deliver on our shared commitment to deliver quality products and outstanding customer service to the region.”

Founded in 1922, Trumbull Industries, Inc. and its affiliated entities have proven themselves as industry leaders, delivering the highest level of customer service and value to their customers for more than 100 years.

“The municipal waterworks division of Trumbull Industries, Inc. has a long history of excellence in the industry,” said Jack Schaller, president of Core & Main Waterworks. “Its dedicated team's commitment to exceptional service makes it a perfect addition to the Core & Main family.”

The municipal waterworks division of Trumbull Industries, Inc. distributes a variety of critical infrastructure products to the waterworks industry through four branches in Youngstown and Akron, Ohio, and Bentleyville and Meadville, 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 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/20221003006009/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 Trumbull Industries' municipal waterworks division?

The acquisition expands Core & Main's market presence in Ohio and Pennsylvania, enhancing its product offerings and customer service capabilities.

When was the acquisition of Trumbull Industries by Core & Main announced?

The acquisition was publicly announced prior to its completion, although the exact date is not specified in the press release.

What assets were included in Core & Main's acquisition from Trumbull Industries?

The acquisition included substantially all assets of Trumbull Industries' municipal waterworks division and an affiliated entity supplying specialty products.

How does this acquisition affect Core & Main's operations?

The acquisition allows Core & Main to enhance its service delivery and product range, leveraging local knowledge and expertise from Trumbull's team.