Franklin Electric Co., Inc. has announced its plan to acquire Barnes de Colombia S.A., a well-known industrial and commercial pump manufacturer. The acquisition is expected to strengthen Franklin Electric’s market position in Latin America, allowing the company to expand its product offerings and distribution network. The deal, subject to Colombian antitrust approval and other closing conditions, is anticipated to be finalized by March 1, 2025.
Strengthening Supply Chain and Market Reach
Barnes de Colombia operates two manufacturing facilities and more than eight stocking locations across Colombia, with additional assembly plants in Mexico, Brazil, and Argentina. The company also has local warehouses in Guatemala, Panama, Ecuador, Peru, and Chile. This acquisition aligns with Franklin Electric’s long-term strategy of diversifying its product lines and improving supply chain efficiency. With a strong financial position, including a stable market value and moderate debt levels, Franklin Electric is well-positioned for this expansion.
Franklin Electric Commitment to Innovation and Growth
Joe Ruzynski, CEO of Franklin Electric, expressed confidence in the acquisition, stating that it will help the company strengthen its presence in high-growth Latin American markets. He also highlighted the value that Barnes de Colombia’s 400 employees will bring to Franklin Electric’s operations. The deal was facilitated by Seale & Associates, which provided investment banking services, while legal counsel was handled by Garrigues (Colombia and Mexico) for Franklin Electric and Brigard Urrutia for Barnes de Colombia.
With this move, Franklin Electric continues to build on its commitment to innovation, customer service, and long-term financial stability, further solidifying its role as a key player in the global water and energy sector. More Information