Franklin Electric has acquired Barnes de Colombia S.A., enhancing its presence and capabilities in the Latin American pump market.
Information on the Target
Franklin Electric Co., Inc. (NASDAQ: FELE), headquartered in Fort Wayne, Indiana, has entered into a definitive agreement to acquire Barnes de Colombia S.A., a prominent manufacturer and distributor of industrial and commercial pumps located in Cota, Cundinamarca, Colombia. This strategic acquisition is geared towards promoting Franklin Electric's long-term growth and diversification strategies, particularly targeting expansion within the Latin American market.
Barnes de Colombia, known in certain countries, including the United States, under the WDM brand, operates from its headquarters near Bogotá, Colombia. The company boasts two manufacturing facilities and more than eight stocking locations within Colombia, along with assembly facilities situated in Mexico, Brazil, and Argentina. Additionally, Barnes operates local warehouses across several nations, including Guatemala, Panama, Ecuador, Peru, and Chile.
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Industry Overview in Colombia
The industrial and commercial pump industry in Colombia demonstrates robust growth potential, driven by increasing infrastructure development and a rising demand for advanced water management sy
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