Franklin Electric to Acquire Challenge Pumps for Up to $195 Million

04:39 AM EDT, 10/28/2026 (MT Newswires) -- Franklin Electric (FELE) has agreed to acquire Australia's Challenge Pumps for about $181 million in cash, plus up to $14 million in contingent payments tied to revenue performance, the company said late Tuesday. Challenge Pumps provides underground mine dewatering solutions and had about $52 million in annual revenue, the company said. Franklin Electric said the acquisition will strengthen its mineral extraction water-management business, expand recurring aftermarket revenue and enhance its position in industrial end markets. The company said it plans to fund the deal using its available cash and borrowings from its existing debt facilities and expects the deal to be accretive to adjusted earnings in 2027. Challenge Pumps will become part of Franklin Electric's Water Systems segment and continue operating under its existing brand, Franklin Electric said. Closing is expected to occur in 2026, subject to customary closing conditions, it added.