Franklin Electric announced it has acquired New Aqua and its wholly owned subsidiaries, headquartered in Indianapolis, Indiana in an all-cash transaction valued at $150 million, subject to customary adjustments.
New Aqua is a water treatment business with more than 230 employees and 590 independent water quality dealers within the United States. The business currently operates under the brand names Aqua Systems and Hellenbrand to manufacture and provide services for a complete line of residential and commercial water treatment and drinking water equipment. New Aqua’s consolidated annual sales in 2020 were approximately $68 million, with EBITDA (a) margins of about 17 percent.