Franklin Electric Aquires Little Giant, Plans to Expand Pump Offering

Franklin Electric Co., Inc. announced that it has entered into an agreement to acquire Little Giant Pump Company by purchasing its stock for the price of $121 million.

”The acquisition of Little Giant Pump Company will solidify Franklin Electric’s position as a global supplier of pumping equipment for residential and commercial markets, says R. Scott Trumbull, Chairman and Chief Executive Officer of Franklin Electric. “Little Giant’s product lines – sump, sewage, effluent, condensate and industrial submersible pumps – will complement and broaden our overall pump offering and allow us to expand our customer base.”

After taking tax benefits into account, the purchase price is close to the amount of Little Giant’s 2005 fiscal year sales.

Franklin Electric is a global supplier of water pumping systems and fuel pumping systems. Little Giant Pump Company, a subsidiary of Tecumseh Products Company, is a worldwide provider of commercial and consumer water transfer solutions.