St. Louis-based Core & Main LP, a U.S. distributor of water, sewer and fire protection products, announced Tuesday it has entered into a definitive agreement to acquire substantially all of the assets of Water Works Supply Co.
Core & Main has more than 275 locations nationwide, including in Metro East, working with municipalities and contractors through its national supply chain. Core & Main has 3,500-plus associates.
The acquisition will mark Core & Main’s 11th transaction since becoming an independent company in August 2017. Financial terms were not disclosed.
“As an essential business in water infrastructure, we’ve continued operations throughout the pandemic, while closely monitoring the industry activity in our local markets. Our strong liquidity position allows us to pursue strategic growth opportunities like Water Works Supply Co. The company is healthy, well-run and aligns perfectly with our core business,” said Steve LeClair, chief executive officer of Core & Main.
Founded in 1953, Water Works Supply Co. is a New Jersey-based waterworks distributor, serving industrial and municipal customers with a broad range of waterworks products and services, including PVC, copper, ductile iron and fusible pipe, as well as valves, fittings, hydrants and meters. Led by President James Schmutz since 1984, the company operates three branches in New Jersey.
“Jim has a great team with a proven track record of success,” said Jack Schaller, president of Core & Main Waterworks. “This acquisition will allow us to expand our customer base in New Jersey and grow our reach to better serve customers throughout the state. We look forward to combining our teams and welcoming the folks at Water Works Supply into the Core & Main family upon closing the transaction.”