Franklin Electric has acquired Industrias Schneider SA, a Brazil-based producer of pumps for the residential, agricultural, and light commercial markets. The company is headquartered in Joinville-SC and had 2007 net revenues of approximately R71 million.
“The Industrias Schneider acquisition advances our strategy to expand Franklin ‘s business base in developing regions where the demand for our products is growing most rapidly. […Schneider’s] market position is complementary to Franklin ‘s strength in submersible well and wastewater-pumping systems for the same end users,” said R. Scott Trumbull, chairman and CEO of Franklin Electric.
“We are confident that we can accelerate Schneider’s strong organic growth by selling Franklin and Little Giant branded products through the extensive Schneider distribution network in Brazil . We will also seek to expand the sale of Schneider pumps through Franklin ‘s distribution networks in markets outside of Brazil.”