Core & Main Signs Agreement to Acquire Ohio-Based Waterworks Company

Rhea-AI Summary

Core & Main, Inc. (NYSE: CNM) has announced its acquisition of the municipal waterworks division of Trumbull Industries, a key player in the waterworks sector for over 100 years. This strategic move is expected to enhance Core & Main's service offerings and strengthen customer relationships. The acquisition includes four branches located in Ohio and Pennsylvania, facilitating access to a broader product range. The transaction aims to capitalize on synergies between the two companies, focusing on exemplary customer service and product quality.

Positive

• Acquisition enhances service offerings and strengthens customer relationships.
• Access to a wider array of products and services through Core & Main's national supply chain.
• Trumbull's long-standing industry expertise will complement Core & Main's operations.

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 entered into a definitive agreement to purchase the municipal waterworks division of Trumbull Industries, Inc. and an affiliated entity, a supplier of specialty and private label products for the municipal and industrial markets, based in Ohio.

“Trumbull Industries municipal division has operated for more than 100 years as a trusted partner in the waterworks sector. I look forward to combining two teams that are dedicated to exemplary customer service,” said Steve LeClair, chief executive officer of Core & Main.

“The Trumbull Industries municipal team has built enduring customer relationships through their industry expertise and steadfast service. I’m excited to see what we will accomplish together with access to an even broader array of products and services through Core & Main’s national supply chain,” said Jack Schaller, president, Core & Main.

Founded in 1922, Trumbull Industries, Inc. and its affiliated entities focus on delivering the highest level of customer service and value to its customers. Based in Ohio, Trumbull Industries municipal division distributes a variety of products to the waterworks industry, currently operating out of four branches, located in Youngstown and Akron, Ohio, and Bentleyville and Meadville, Pennsylvania.

“We have a dedicated team of employees who provide exceptional service and an array of high-quality products,” said Sam H. Miller, of Trumbull Industries’ municipal division. “Core & Main has its own remarkable history, and it is apparent we share a fundamental set of values. Their focus on collaborative associate development and excellent customer service creates a lot of excitement for our team.”

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/20220823005824/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 aims to enhance Core & Main's service offerings and expand its product range, strengthening customer relationships.

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

The announcement was made recently, highlighting the strategic importance of this acquisition for Core & Main.

How many branches does Trumbull Industries' municipal division operate?

Trumbull Industries' municipal division operates four branches located in Ohio and Pennsylvania.

What are the expected benefits of Core & Main acquiring Trumbull Industries?

Expected benefits include enhanced customer service, a broader product range, and strengthened operational capabilities.