Franklin Electric buys Cat Pumps

Franklin Electric has completed the US$350 million acquisition of Cat Pumps Corporation, strengthening its commercial and industrial flow control offering with high-pressure pump technology and expanding its exposure to mission-critical applications.
The transaction includes US$350 million in cash and a potential earnout of up to US$50 million in Franklin Electric stock, subject to future performance.
Minneapolis-based Cat Pumps is a provider of high-pressure plunger and piston pumps for commercial and industrial applications. The company generated approximately US$115 million in revenue and US$45 million in adjusted EBITDA in 2025.
“This acquisition accelerates our strategy to build a broader, more resilient flow control company,” said Joe Ruzynski, CEO of Franklin Electric. “Cat Pumps brings a premium brand with exceptional customer loyalty, proprietary technology, and deep expertise in demanding commercial and industrial applications. Combined with Franklin’s commercial capabilities, global footprint, and systems expertise, we see meaningful opportunities to expand the business and better serve customers across our combined markets.”
Cat Pumps’ technologies serve markets including industrial cleaning, reverse osmosis and water treatment, vehicle cleaning, energy, hydro excavation and water misting. Franklin Electric said the acquisition expands its addressable market by more than US$1 billion and adds recurring aftermarket and accessories revenue.
Cat Pumps will form part of Franklin Electric’s Energy Systems segment and will continue operating under the Cat Pumps brand.