# Franklin Electric acquires controlling interests in three groundwater distributors for $89M

Franklin Electric has acquired controlling interests in 2M Company, Western Hydro Holding Corporation and Drillers Service Inc. for approximately $89 million. The three distributors will operate as Headwater Companies LLC, serving groundwater professionals across the U.S.

- Type: Acquisition
- Announced: 2017-04-01
- Where: United States
- Value: $89.0M
- Status: announced
- Products: groundwater pumping systems, water distribution products
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Franklin Electric](https://endata.com/companies/1787.md)
- [Franklin Electric](https://endata.com/companies/1787.md) (acquirer)
- [2M Co](https://endata.com/companies/1788.md) (target)
- [Western Hydro Holding](https://endata.com/companies/1789.md) (target)
- [Drillers Service](https://endata.com/companies/1790.md) (target)
- [Headwater Companies](https://endata.com/companies/11411.md) (target)

## Sources

- [thedriller.com](https://www.thedriller.com/articles/90832-franklin-electric-buys-stake-in-distributors), 2017-04-18: "Franklin Electric Co. has acquired controlling interests in 2M Company Inc., Western Hydro Holding Corporation and Drillers Service Inc."
- [thedriller.com](https://www.thedriller.com/articles/90868-franklin-electric-headwater-focus-on-groundwater-contractors), 2017-06-05: "The $89 million deal created a distributor network — with 60 locations and nearly 500 employees — that Franklin Chairman and CEO Gregg Sengstack calls 'the largest in the industry.'"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.