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FRANKLIN ELECTRIC CO INC (FELE) filed an 8-K current report with the SEC on September 8, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). Franklin Electric acquired all Cat Pumps shares, adding a global water-systems manufacturer and wholesale supplier.
FRANKLIN ELECTRIC CO INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- Franklin Electric acquired all Cat Pumps shares, adding a global water-systems manufacturer and wholesale supplier
- Upfront consideration approximately $350 million, subject to purchase-price adjustments
- Additional performance-based restricted stock units target value $25 million, payable based on 2028 gross-profit performance
- PRSU payout range 0%–200%, creating contingent consideration tied to Cat Pumps execution
- Cash purchase funded through available cash and borrowings under existing credit facilities
Item 7.01 · Regulation FD Disclosure
- Press release dated September 4, 2026 concerning the transaction described in the 8-K
- Exhibit 99.1 contains the substantive transaction details for investor review
Item EX-99.1 · Exhibit EX-99.1
- Completed Cat Pumps acquisition September 4, 2026 for $350 million cash plus potential earnout of up to $50 million in Franklin stock
- Cat Pumps generated approximately $115 million revenue and $45 million Adjusted EBITDA in 2025, implying EBITDA margin above 35%
- Expands Franklin’s addressable market by $1+ billion across high-growth industrial cleaning, water treatment, energy, and vehicle-cleaning applications
- Expected Adjusted EPS accretion in 2027, supported by recurring aftermarket revenue and potential portfolio synergies
- Transaction funded with cash and credit facilities, with expected post-close net leverage of approximately 1.5x
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