Water Pump Systems Maker Franklin Electric Buys Cerus Industrial
Franklin Electric Co., a maker of water and fuel pump systems, acquired Cerus Industrial Inc., an Oregon motor controls manufacturer, for $25.7 million in cash.
Franklin, based in Bluffton, Indiana, “has been a leader in applying drive and control technologies to groundwater pumping systems,” Chief Executive Officer Scott Trumbull said in an Aug. 10 statement.
The acquisition of Hillsboro, Oregon-based Cerus “will enable us to further accelerate our growth,” reduce manufacturing costs and broaden the company’s product line, Trumbull said.
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