Benzinga | Jan 4, 2022 08:35AM EST

Franklin Electric Acquires Blake Group Holdings For $27.1M

FORT WAYNE, Ind., Jan. 04, 2022 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ:FELE) announced today that on December 31, 2021 its wholly owned subsidiary Headwater Companies, LLC acquired Blake Group Holdings, Inc., a Connecticut corporation, for $27.1 million in cash. Blake is a professional groundwater distributor operating fourteen locations throughout the northeast United States. Blake has approximately $74 million of consolidated annual sales.