Core & Main Signs Agreement to Acquire Eastcom Associates Inc.
Core & Main Inc. (NYSE: CNM) has entered into a definitive agreement to acquire substantially all the assets of Eastcom Associates Inc., a distributor of underground utility protection equipment based in Branchburg, New Jersey. Eastcom has been operating since 1972, serving surveyors and contractors in 13 states with damage prevention equipment, training, and service.
Mike Huebert, president of Core & Main, expressed excitement about the acquisition, highlighting Eastcom's product and service knowledge in a growing product area for Core & Main. Dennis Cinelli, general manager of Eastcom Associates, emphasized the company's 50-year commitment to being a dependable partner and believes the alignment with Core & Main will create new opportunities for success and growth.
Core & Main Inc. (NYSE: CNM) ha concluso un accordo definitivo per acquisire sostanzialmente tutti gli asset di Eastcom Associates Inc., un distributore di attrezzature per la protezione delle utility sotterranee con sede a Branchburg, New Jersey. Eastcom opera dal 1972, servendo geometri e appaltatori in 13 stati con attrezzature per la prevenzione dei danni, formazione e servizio.
Mike Huebert, presidente di Core & Main, ha espresso entusiasmo per l'acquisizione, sottolineando la conoscenza dei prodotti e dei servizi di Eastcom in un'area di prodotto in crescita per Core & Main. Dennis Cinelli, direttore generale di Eastcom Associates, ha evidenziato l'impegno dell'azienda di 50 anni a essere un partner affidabile e crede che l'allineamento con Core & Main creerà nuove opportunità per il successo e la crescita.
Core & Main Inc. (NYSE: CNM) ha firmado un acuerdo definitivo para adquirir prácticamente todos los activos de Eastcom Associates Inc., un distribuidor de equipos de protección de utilidades subterráneas con sede en Branchburg, Nueva Jersey. Eastcom ha estado operando desde 1972, sirviendo a topógrafos y contratistas en 13 estados con equipos de prevención de daños, capacitación y servicio.
Mike Huebert, presidente de Core & Main, expresó su entusiasmo por la adquisición, destacando el conocimiento de productos y servicios de Eastcom en un área de productos en crecimiento para Core & Main. Dennis Cinelli, gerente general de Eastcom Associates, enfatizó el compromiso de la empresa durante 50 años de ser un socio confiable y cree que la alineación con Core & Main generará nuevas oportunidades de éxito y crecimiento.
Core & Main Inc. (NYSE: CNM)는 뉴저지주 브랜치버그에 본사를 둔 지하 유틸리티 보호 장비 유통업체인 Eastcom Associates Inc.의 자산 대부분을 인수하기 위한 최종 계약을 체결했습니다. Eastcom은 1972년부터 운영되어 왔으며, 13개 주에서 조사관 및 계약자에게 손상 방지 장비, 교육 및 서비스를 제공합니다.
Core & Main의 사장인 Mike Huebert는 인수에 대한 기대감을 표명하며 Eastcom의 제품 및 서비스에 대한 지식이 Core & Main의 성장하는 제품 분야에 중요하다고 강조했습니다. Eastcom Associates의 총괄 매니저인 Dennis Cinelli는 50년 동안 신뢰할 수 있는 파트너로서의 회사의 약속을 강조하며 Core & Main과의 정렬이 성공과 성장의 새로운 기회를 창출할 것이라고 믿습니다.
Core & Main Inc. (NYSE: CNM) a conclu un accord définitif pour acquérir pratiquement tous les actifs de Eastcom Associates Inc., un distributeur d'équipements de protection des utilitaires souterrains basé à Branchburg, New Jersey. Eastcom opère depuis 1972, servant des géomètres et des entrepreneurs dans 13 États avec des équipements de prévention des dommages, des formations et des services.
Mike Huebert, président de Core & Main, a exprimé son enthousiasme concernant l'acquisition, soulignant le savoir-faire d'Eastcom concernant les produits et services dans un domaine en croissance pour Core & Main. Dennis Cinelli, directeur général d'Eastcom Associates, a souligné l'engagement de 50 ans de l'entreprise à être un partenaire fiable et croit que l'alignement avec Core & Main créera de nouvelles opportunités de succès et de croissance.
Core & Main Inc. (NYSE: CNM) hat eine endgültige Vereinbarung zur Übernahme nahezu aller Vermögenswerte von Eastcom Associates Inc., einem Distributor von Untergrundschutzgeräten mit Sitz in Branchburg, New Jersey, getroffen. Eastcom ist seit 1972 tätig und bedient Vermessungsingenieure und Auftragnehmer in 13 Bundesstaaten mit Geräten zur Schadensverhütung, Schulungen und Dienstleistungen.
Mike Huebert, Präsident von Core & Main, äußerte sich begeistert über die Übernahme und betonte das Produkt- und Servicewissen von Eastcom in einem wachsenden Produktbereich für Core & Main. Dennis Cinelli, Geschäftsführer von Eastcom Associates, hob das 50-jährige Engagement des Unternehmens als zuverlässiger Partner hervor und ist überzeugt, dass die Zusammenarbeit mit Core & Main neue Chancen für Erfolg und Wachstum schaffen wird.
- Acquisition expands Core & Main's product offerings in the growing underground utility protection equipment sector
- Eastcom brings expertise and strong reputation in 13 states, potentially enhancing Core & Main's market presence
- Acquisition aligns with Core & Main's strategy for growth and market expansion
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Insights
Core & Main's acquisition of Eastcom Associates is a strategic move that could enhance its market position in the underground utility protection equipment sector. This acquisition aligns with Core & Main's growth strategy, potentially expanding its product offerings and geographical reach. Eastcom's strong reputation and 50-year history in 13 states could provide Core & Main with an established customer base and valuable industry relationships.
From a financial perspective, while specific terms weren't disclosed, this acquisition could positively impact Core & Main's revenue and market share. The company's ability to integrate Eastcom's operations and leverage its expertise in damage prevention equipment could lead to operational synergies and cost efficiencies. However, investors should monitor the integration process and any potential short-term costs associated with the acquisition.
This move also demonstrates Core & Main's commitment to expanding its specialty distribution capabilities, which could strengthen its competitive position in the infrastructure sector. Long-term, this could translate to improved financial performance and shareholder value, assuming successful integration and market expansion.
The acquisition of Eastcom Associates by Core & Main is indicative of a broader trend in the infrastructure sector towards consolidation and expansion of service offerings. This move could be particularly timely given the increased focus on infrastructure investment in the United States. The underground utility protection equipment market is likely to see growth as aging infrastructure is replaced and new projects are initiated.
Eastcom's expertise in damage prevention equipment and training services could give Core & Main a competitive edge in a specialized market segment. This acquisition may allow Core & Main to cross-sell its existing products to Eastcom's customer base and vice versa, potentially driving revenue growth. The deal also expands Core & Main's geographical footprint, which could lead to increased market share and improved distribution efficiencies.
Investors should consider the potential for this acquisition to enhance Core & Main's value proposition to customers, possibly leading to increased customer retention and attraction of new clients in the surveying and contracting industries.
Since 1972, Eastcom has distributed damage prevention equipment, training and service to surveyors and contractors in 13 states. The company has earned a strong reputation for providing quality products backed by exceptional service.
"The Eastcom team brings a wealth of product and service knowledge in this growing product area for Core & Main, which will be a great addition to our existing product offerings," said Mike Huebert, president of Core & Main. “I am excited about the opportunity to work with such a dedicated and talented team as part of the Core & Main family.”
“Eastcom has been committed to being a dependable partner to our customers for more than 50 years, assisting them with their damage prevention equipment, training and service needs," said Dennis Cinelli, general manager of Eastcom Associates. “I am extremely proud of our team's legacy and believe that aligning with Core & Main will create new opportunities for success and pave the way for continued growth well into the future."
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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.
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