Core & Main Expands into Canada by Signing Agreement to Acquire HM Pipe Products
2024年7月9日 - 8:30PM
ビジネスワイヤ(英語)
Core & Main Inc. (NYSE: CNM), a leader in advancing reliable
infrastructure with local service, nationwide, has entered into a
definitive agreement to acquire substantially all of the assets of
HM Pipe Products, Inc. and HM Pipe Products Kitchener Inc.
(collectively, HM Pipe Products), a Canadian distributor of water
and wastewater products.
"With our expansion into Canada, we will achieve a key milestone
for Core & Main. The team at HM Pipe Products has extensive
market knowledge, an excellent reputation in the industry and
strong customer connections,” said Steve LeClair, chair and CEO of
Core & Main. “We plan to utilize our collective resources and
combined expertise to address Canada's water and wastewater
infrastructure needs, providing significant future growth
opportunities in the multibillion-dollar Canadian market."
Established in 2010, HM Pipe Products is a trusted provider of a
broad array of products to assist contractors and municipalities in
Ontario with their waterworks infrastructure projects. Their
experienced team operates from two locations in London, Ontario,
and Kitchener, Ontario.
"It was important for us to partner with an established industry
veteran who has a similar culture and dedication to exceptional
service when entering the Canadian market. We found that in HM Pipe
Products," said Jack Schaller, president of Core & Main. "I
look forward to welcoming them to Core & Main and collaborating
with their team as we build out our presence in Canada."
"I am very proud of what our team has accomplished since Fraser
Metcalf and I founded the company in 2010,” said HM Pipe Products
President, Rick Henry. “Fraser and I are excited to enter a new
chapter as part of the Core & Main family. We feel a strong
alignment of purpose with their team, and this partnership paves
the way for us to support the Canadian water and wastewater
industry with expanded resources and unmatched excellence."
About Core & Main
Based in St. Louis, Core & Main is a leader in advancing
reliable infrastructure™ with local service, nationwide®. As a
leading specialized distributor with a focus on water, wastewater,
storm drainage and fire protection products and related services,
Core & Main provides solutions to municipalities, private water
companies and professional contractors across municipal,
non-residential and residential end markets, nationwide. With more
than 350 locations across the U.S., the company provides its
customers local expertise backed by a national supply chain. Core
& Main’s nearly 5,500 associates are committed to helping their
communities thrive with safe and reliable infrastructure. Visit
coreandmain.com to learn more.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release include
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Examples of
forward-looking statements include information concerning Core
& Main’s financial and operating outlook, as well as any other
statement that does not directly relate to any historical or
current fact. In some cases, you can identify forward-looking
statements by terminology such as “may,” “will,” “could,” “should,”
“forecasts,” “expects,” “intends,” “plans,” “anticipates,”
“projects,” “outlook,” “believes,” “estimates,” “predicts,”
“potential,” “continue,” “preliminary,” or the negative of these
terms or other comparable terminology. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we can give you no assurance these expectations will
prove to have been correct. These forward-looking statements relate
to future events or our future financial performance and involve
known and unknown risks, uncertainties and other factors that may
cause our actual results, levels of activity, performance, or
achievements to differ materially from any future results, levels
of activity, performance, or achievements expressed or implied by
these forward-looking statements.
Additional information concerning these and other factors can be
found in our filings with the Securities and Exchange Commission.
All forward-looking statements attributable to us or persons acting
on our behalf are expressly qualified in their entirety by the
foregoing cautionary statements. All such statements speak only as
of the date made and, except as required by law, we undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240709214104/en/
Investor Relations: Robyn Bradbury, 314-995-9116
InvestorRelations@CoreandMain.com
Media Relations: Jennifer Noonan, 314-750-9670
Jennifer.Noonan@CoreandMain.com
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