May 8, 2006: Franklin Electric Closes Purchase of Little Giant Pump Co.
BLUFFTON, Ind. - Franklin Electric Co. Inc. announced that it has completed its acquisition of Little Giant Pump Co. in a stock purchase transaction. Little Giant, previously a wholly owned subsidiary of Tecumseh Products Co., is a leading worldwide provider of commercial and consumer water transfer solutions.
The purchase price of $121 million excludes associated tax benefits and transaction costs and is subject to a post-closing working capital adjustment. Franklin Electric expects the transaction to be accretive to its earnings per share in the first year of ownership.