Franklin Electric announced that it has bought Brazil-based submersible pump company Bombas Leão S.A.
“Brazil is one of the largest ground water pumping markets in the world and a cornerstone of our developing markets growth strategy,” said Gregg Sengstack, Franklin Electric CEO.
Bombas Leão has manufacturing facilities in Monte Azul Paulista and Teresina, and a distribution facility in Recife. Its business of designing, manufacturing and distributing pump equipment brought in revenue of about $30 million in 2013.
The Brazilian company was established in 1964. It’s a major supplier of groundwater pumps for agriculture, industry and municipalities. It is owned by the Plaza family.
“We have maintained contact with the Plaza family over the years and are pleased with their decision to sell their company to Franklin Electric,” Sengstack added. “The Bombas Leão acquisition will provide additional submersible pump products, extending the Franklin Electric product offering, expand our distribution reach and further position Franklin Electric as a market leader in groundwater pumping equipment in Latin America.”
Franklin Electric already had a presence in the country through Motobombas Schneider, a residential pump systems company acquired in 2008. Since that acquisition, sales at Motobombas have doubled and plans are in the works to open a new factory and training center. Bombas Leão helps Franklin Electric add to that portfolio.
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.franklin-electric.com.