Franklin Electric Acquires Barnes de Colombia to Expand Latin…

Franklin Electric Co., Inc. is set to acquire Barnes de Colombia S.A., a major pump manufacturer, in a move aimed at boosting growth and diversification in Latin America. The acquisition will bolster Franklin’s product offerings and market presence. The deal is expected to close by March 1, 2025, pending regulatory approval.

Franklin Electric Co., Inc. has announced a definitive agreement to acquire Barnes de Colombia S.A., which is a leading manufacturer and distributor of industrial and commercial pumps located in Cota, Cundinamarca, Colombia. This strategic move aims to enhance Franklin’s growth and diversification efforts in the rapidly expanding Latin American market.

Barnes de Colombia is recognized for its operations under the WDM brand across various regions, including the U.S. The company has two manufacturing plants and over eight stocking locations in Colombia, alongside assembly facilities in Mexico, Brazil, and Argentina, and local warehouses in several Central and South American countries.

The acquisition is intended to strengthen Franklin Electric’s product range and its market footprint in crucial Latin American territories. Barnes’ established presence and operational capabilities in Colombia and surrounding countries are projected to accelerate Franklin’s regional growth. This aligns with Franklin’s long-term objectives of diversifying its offerings and enhancing the resilience of its supply chain.

Joe Ruzynski, CEO of Franklin Electric, expressed enthusiasm about the acquisition, noting that it not only bolsters their presence in Latin America but also enhances their capacity to provide innovative, high-quality products. With approximately 400 employees at Barnes, the merger is expected to significantly improve Franklin’s operational capabilities.

The transaction is subject to standard closing conditions, including the approval of Colombian antitrust authorities, with expectations for completion around March 1, 2025. Seale & Associates acted as financial advisors for Barnes, while Garrigues and Brigard Urrutia provided legal counsel for Franklin Electric and Barnes, respectively.

This acquisition of Barnes de Colombia by Franklin Electric is a strategic initiative that bolsters its market presence in Latin America and enhances its product portfolio. With Barnes’ established operations and strong distribution networks, Franklin Electric aims to achieve significant growth and adapt to market demands while maintaining high quality and service standards.

Original Source: www.manilatimes.net