Franklin Electric has completed its acquisition of 75% of the outstanding shares of Vertical SpA. Vertical specializes in the design, development and manufacture of pressed and welded stainless steel pumps and pump components. It is headquartered in Vicenza , Italy and had 2008 net revenues of approximately €20 million.
“In anticipation of this investment, Franklin has already initiated projects in the Americas and Asia to introduce stainless steel pumps produced by Vertical,” said R. Scott Trumbull, chairman and CEO of Franklin Electric. “In Europe, Vertical will continue to supply components to its pump original equipment manufacturer customer base, many of whom are already valued customers of Franklin Electric.”