Franklin Electric Co. Inc. has purchased Lubbock, Texas-based Gicon Pumps & Equipment Inc. The $27.9 million cash transaction closed on Dec. 31, 2020. Gicon operates seven locations across Texas.
“We are pleased to add Gicon to the Headwater family,” said DeLancey Davis, president of Headwater Companies, the wholly owned distribution segment of Franklin Electric.
“The team at Gicon has served the pump industry and related water resource markets for over 40 years and has an outstanding reputation within the industry for quality service and technical depth. The acquisition of Gicon adds to Headwater’s commitment to the critical groundwater markets, provides geographic expansion in the Texas market and further fulfills our objective of being the leading source for water systems solutions distribution in the U.S.”
Gicon, which has approximately $68 million in consolidated annual sales, becomes the latest groundwater distributor to come under the Headwater Companies LLC. In a release, the company calls Headwater “a focused groundwater distribution organization that delivers quality products and leading brands to the industry, providing contractors with the availability and service they demand to meet their application challenges.”
Franklin Electric offers an array of systems and components for moving water and automotive fuels. It serves residential, commercial, agricultural, industrial and municipal customers around the world. For more information, visit www.franklinwater.com.