Franklin Electric Buys Cat Pumps for $350 Million Cash Plus PRSUs, Expanding Flow Control Platform
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Franklin Electric entered into a Share Purchase Agreement to acquire all outstanding shares of Cat Pumps. The consideration includes approximately $350 million in cash and performance-based restricted stock units with a $25 million target value, payable based on 2028 gross profit. The cash portion was funded with available cash and borrowings under existing credit facilities. The deal strengthens Franklin Electric's commercial and industrial flow control portfolio.
Agreement details:
Original SEC Filing: FRANKLIN ELECTRIC CO INC [ FELE ] - 8-K - Sep. 08, 2026
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