Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, has entered into a definitive agreement to acquire substantially all the assets of Green Equipment Company, a provider of underground utility protection equipment, based in Fort Worth, Texas.
“Green Equipment Company's expertise and solid presence in the underground utility industry across the southwest and southeast United States are strong complements to our existing product portfolio and present Core & Main with new opportunities for growth," said Steve LeClair, chair and CEO of Core & Main.
Founded in 1982, Green Equipment Company is a distributor of damage prevention, utility locating and wastewater inspection equipment, serving contractors, municipalities and utilities across eight states. The Green Equipment Company team offers its customers a variety of damage prevention products along with ongoing support, industry-leading training and comprehensive repair services.
"Green Equipment Company shares Core & Main’s focus on delivering high-quality products with a commitment to superior customer service," said Mike Huebert, president of Core & Main. "The client relationships and expansive knowledge they bring will enhance our ability to provide customers with robust solutions to their underground utility needs. We look forward to welcoming them into the Core & Main family."
"I am very proud of what our company has accomplished over the last 47 years, and most recently under the leadership of Vice President Zane Smith," said Ed Green, owner of Green Equipment Company. "We have worked hard to position our company as a leading, reliable resource for damage prevention equipment in the utility industry. I am confident that joining Core & Main, whose culture closely aligns with ours, will enable us to continue building on this legacy while providing my team with a wealth of additional resources and opportunities for growth."
About Core & Main
Based in St. Louis, Core & Main is a leader in advancing reliable infrastructure™ with local service, nationwide®. As a leading specialized distributor with a focus on water, wastewater, storm drainage and fire protection products and related services, Core & Main provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets, nationwide. With more than 350 locations across the U.S., the company provides its customers local expertise backed by a national supply chain. Core & Main’s nearly 5,500 associates are committed to helping their communities thrive with safe and reliable infrastructure. Visit coreandmain.com to learn more.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Core & Main’s financial and operating outlook, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
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