Benzinga | Sep 16, 2021 07:34AM EDT

Core & Main To Acquire CES Industrial Piping Supply For Undisclosed Sum

* Core & Main Inc. (NYSE:CNM) agreed to acquire substantially all of the assets of CES Industrial Piping Supply, a full-service provider of HDPE (high-density polyethylene) products and services, based in Kansas City, Missouri. The financial terms of the deal were not disclosed.

* Core & Main currently serves the Kansas City region from its locations in Blue Springs, Missouri and Olathe, Kansas.

* CES Industrial Piping Supply offers a complete line of HDPE pipes, fittings, and fusion machines. The team serves such markets as industrial, oil and gas, water, wastewater, wind energy, landfill, mining, environmental, and power plants.

* Core & Main held cash and cash equivalents of $66.6 million as of August 1, 2021.

* Price Action: CNM shares are trading higher by 0.61% at $27.95 during the premarket session on Thursday.