ST. LOUIS - Core & Main Inc. (NYSE: CNM), a company specializing in infrastructure solutions, has announced a definitive agreement to acquire the assets of EGW Utilities, Inc., a Texas-based distributor serving the underground utilities sector. The addition of EGW is poised to enhance Core & Main's product offerings and service capabilities within the industry.
EGW Utilities, located in Carrollton, Texas, has been operational since 2001, focusing on providing products and services for underground utility infrastructure. Their reputation for high-quality solutions and strong customer relationships aligns with Core & Main's commitment to reliable infrastructure advancement.
Steve LeClair, Core & Main's chairman and CEO, expressed enthusiasm for the acquisition, citing the technical expertise and knowledge the EGW team will bring. Brad Cowles, president of Core & Main, also highlighted the strategic and cultural fit of the acquisition, anticipating growth opportunities and added value for customers.
Phil Wiegers, the founder and CEO of EGW, commented on the shared values between the two companies, emphasizing a commitment to quality and integrity. He expressed optimism about the future under Core & Main's stewardship.
Core & Main, headquartered in St. Louis, operates more than 350 locations across the United States, offering a national supply chain with local expertise. The company's focus spans water, wastewater, storm drainage, and fire protection products and services, serving a diverse customer base that includes municipalities, private water companies, and professional contractors.
The financial terms of the agreement were not disclosed in the press release statement. The acquisition is part of Core & Main's broader strategy to grow its service offerings and market reach within the reliable infrastructure industry.
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