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Core & Main announced the signing of a definitive agreement to acquire substantially all of the assets of Minnesota Pipe & Equipment. The acquisition, which would be the first for Core & Main since becoming a freestanding enterprise this past August, will strengthen the company’s position in the Minnesota waterworks distribution industry.
“We are excited about welcoming Minnesota Pipe & Equipment into the Core & Main family soon,” said Steve LeClair, president and CEO of Core & Main. “Adding the presence they currently have in Minnesota and the surrounding area to our national footprint is aligned with our growth strategy,” LeClair said, “and enhances our ability to support our local customers with the dependable expertise for which they rely on us.”
Minnesota Pipe & Equipment operates three branches in Minnesota (Farmington, Rochester and St. Cloud) that will be operated by Core & Main in their current locations after the transaction closes, which is expected to occur in October. It is expected that all Minnesota Pipe & Equipment associates will join Core & Main after the closing.
“This acquisition will bring the best of both worlds together,” said Wade Baumberger, president of Minnesota Pipe & Equipment. “The relationships we already have established combined with the resources of Core & Main as a large national distributor will benefit all of the contractor and municipal customers in the area.”
With the addition of Minnesota Pipe & Equipment’s locations after closing, Core & Main will then operate 249 branches in 46 states throughout the country, serving a customer base of approximately 37,000 municipalities, private water companies and professional contractors.