Franklin Electric, a global flow-control company, has completed the acquisition of Minneapolis-based Cat Pumps for $350 million, expanding its presence in high-pressure pumping and commercial and industrial flow-control markets. The acquisition, completed on September 4, 2026, is expected to broaden Franklin Electric’s addressable market by more than $1 billion. Cat Pumps will become part of Franklin Electric’s Energy Systems segment while continuing to operate and go to market under its established brand.
Cat Pumps supplies high-pressure plunger and piston pumps for a range of commercial and industrial applications. Its products are used in sectors including energy, hydro excavation, industrial cleaning, reverse osmosis and water treatment, vehicle cleaning and water misting. The company generated approximately $115 million in revenue and $45 million in Adjusted EBITDA in 2025. Its business also includes a significant proportion of recurring revenue from aftermarket parts and accessories. Franklin Electric said the acquisition supports its strategy to build a broader and more resilient flow-control business by adding new technologies, applications and customer relationships to its existing portfolio.
Joe Ruzynski, Chief Executive Officer of Franklin Electric, said, “This acquisition accelerates our strategy to build a broader, more resilient flow control company. Cat Pumps brings a premium brand with exceptional customer loyalty, proprietary technology, and deep expertise in demanding commercial and industrial applications.” He added that Franklin Electric’s commercial capabilities, global footprint and systems expertise would create opportunities to expand the combined business and serve customers across a wider range of markets.
The transaction was funded through a combination of available cash and borrowings under Franklin Electric’s existing credit facilities. The agreement also includes a potential earnout of up to $50 million in Franklin Electric stock based on Cat Pumps’ future performance.
Franklin Electric expects the acquisition to be accretive during its first full year of ownership. The company also plans to use its international distribution network to expand Cat Pumps’ presence in selected industrial and infrastructure markets outside North America. The addition of Cat Pumps strengthens Franklin Electric’s portfolio in high-pressure pumping applications while providing access to markets supported by recurring demand for replacement parts, accessories and aftermarket services.
With the acquisition now complete, Franklin Electric will focus on integrating Cat Pumps into its Energy Systems segment while maintaining the company’s established brand and market presence. The transaction marks another step in Franklin Electric’s efforts to expand its flow-control capabilities across commercial, industrial and infrastructure applications and strengthen its position in markets requiring specialised pumping technologies.
