Core & Main Signs Agreement to Acquire Enviroscape

Rhea-AI Summary

Core & Main Inc. has agreed to acquire Enviroscape ECM, Ltd., a provider of geosynthetics and erosion control products. This strategic opportunity will expand Core & Main's geosynthetics reach and capabilities.

Positive

• Core & Main's acquisition of Enviroscape will provide additional capacity and expand their geosynthetics reach and capabilities.

Negative

• None.

ST. LOUIS--(BUSINESS WIRE)-- Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, has entered into a definitive agreement to acquire substantially all of the assets of Enviroscape ECM, Ltd. and three affiliated entities (collectively, “Enviroscape”), a provider of geosynthetics and erosion control products located in Ohio.

“Enviroscape is an exceptional company whose specialty products dovetail well with our existing business. This strategic opportunity will provide additional capacity and allow us to expand our geosynthetics reach and capabilities,” said Steve LeClair, chief executive officer of Core & Main.

Since its founding in 2003, Enviroscape has supplied a variety of erosion control blankets, including straw, coconut and excelsior, along with straw wattles and fertilizer products for wholesale distribution. Enviroscape, located in Deshler, Ohio, prides itself on quick turnaround time and customer satisfaction. These products help to protect slopes, drainage channels, shorelines and job sites.

“Enviroscape has firmly established themselves as a trusted and reliable partner within the geosynthetics market due to their expertise and reputation for first-class service,” said Brad Cowles, president of Core & Main. “They will be a great addition to our existing business, and we look forward to welcoming the team to the Core & Main family.”

“My brother Ron and I have enjoyed being innovators in this industry and building relationships with our trusted suppliers, customers and associates for over 20 years,” said Mark Deitering, partner at Enviroscape ECM, Ltd. “We’ve taken this company to the point where we’re ready to entrust what was built by us and our associates to someone that shares the family-focused and service-oriented culture that those around us expect. With Core & Main’s extensive product line and nationwide branch network, we see only good things in the future for our people.”

About Core & Main

Based in St. Louis, Core & Main is a leader in advancing reliable infrastructure™ with local service, nationwide®. As a leading specialized distributor with a focus on water, wastewater, storm drainage and fire protection products, and related services, Core & Main provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets, nationwide. With approximately 320 locations across the U.S., the company provides its customers local expertise backed by a national supply chain. Core & Main’s 4,500 associates are committed to helping their communities thrive with safe and reliable 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/20231026886246/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 Core & Main acquiring?

Core & Main is acquiring Enviroscape ECM, Ltd., a provider of geosynthetics and erosion control products.

How will the acquisition benefit Core & Main?

The acquisition will provide additional capacity and expand Core & Main's geosynthetics reach and capabilities.

Where is Enviroscape located?

Enviroscape is located in Deshler, Ohio.

What products does Enviroscape supply?

Enviroscape supplies erosion control blankets, straw wattles, and fertilizer products for wholesale distribution.

How long has Enviroscape been in business?

Enviroscape has been in business since 2003.