Core & Main Signs Agreement to Acquire Dangelo Co.

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Core & Main Inc. has announced its acquisition of J.W. D’Angelo Co., a provider of fire protection and waterworks products in Southern California. The acquisition will strengthen Core & Main's presence in the region and enhance its level of service.

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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 J.W. D’Angelo Co., Inc., (Dangelo Co.), a full-service provider of fire protection and waterworks products with three locations in Southern California.

“Dangelo Co. is regarded as an industry-leading provider of fire protection and waterworks products throughout Southern California. Their addition to Core & Main will strengthen our presence in the region and enhance the level of service we can provide to our combined customers,” said Steve LeClair, chief executive officer of Core & Main.

Since 1987, Dangelo Co. has provided contractors across Southern California with an extensive array of waterworks and fire protection products, including pipe, valves, fittings, post indicator valves, storm drain and sewer materials, and other related products. The experienced and knowledgeable staff serves customers from three locations in La Habra, Beaumont and Lakeside, CA.

"We are excited to welcome the Dangelo Co. associates into the Core & Main family. The breadth of knowledge, dedication to outstanding customer service, and complementary product and service offering gained with this strategic acquisition will greatly bolster our presence and service capabilities in Southern California,” said Brad Cowles, president of Core & Main.

“I am proud of the tremendous success Dangelo Co. has achieved over the last 36 years,” said John W. D’Angelo, CEO of Dangelo Co. “My team’s commitment to providing exceptional products and services to our customers has helped us become a leader in the Southern California fire protection and waterworks industries. Joining the Core & Main family will enable us to continue providing our valued customers with excellent support for their projects while expanding our product and service offerings.”

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/20230612607019/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 Inc. acquiring?

Core & Main Inc. is acquiring J.W. D’Angelo Co., a provider of fire protection and waterworks products in Southern California.

What is the impact of the acquisition on Core & Main's presence?

The acquisition will strengthen Core & Main's presence in the Southern California region.

Who will benefit from the acquisition?

The acquisition will benefit Core & Main's customers by enhancing the level of service and expanding product and service offerings.