Franklin Electric agrees to acquire Challenge Pumps for USD 181 million in cash
Bitget2026/10/27 23:33- Franklin Electric agreed to acquire Australian underground mine dewatering specialist Challenge Pumps for approximately US$ 181 million in cash.
- Contingent consideration of up to US$ 14 million is tied to future revenue performance following closing.
- Challenge Pumps generated approximately US$ 52 million revenue and US$ 18 million EBITDA in fiscal 2026 ended June; EBITDA margin approached 35%.
- Closing is expected in 2026, funded through cash on hand and borrowings under existing credit facilities.
- The acquisition is expected to lift adjusted EPS in 2027; recurring aftermarket activity exceeded 55% of revenue over the past three years.
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