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AI brief of an SEC Form 8-K · Franklin Electric (FELE)

Franklin Electric completes $350 million acquisition of Cat Pumps Corporation

Neutral Impact 4 of 5 m&a Written later

Franklin Electric acquired all outstanding stock of Cat Pumps Corporation, a high-pressure pump maker based in Minneapolis, under a share purchase agreement dated September 4, 2026. The company paid about $350 million in cash, subject to adjustment, plus performance-based restricted stock units with a target value of $25 million tied to Cat Pumps' gross profit in 2028. Franklin Electric said the deal is expected to be accretive to Adjusted EPS in 2027 and that its net leverage ratio is expected to be about 1.5x after closing.

Key points

  • Cash consideration of approximately $350 million, funded from available cash and existing credit facilities
  • PRSUs with a target value of $25 million, paying out from 0% to 200% of target based on 2028 gross profit
  • Cat Pumps had approximately $115 million in revenue and $45 million in Adjusted EBITDA in 2025, per the press release
  • Cat Pumps will be reported in the Energy Systems segment; the acquisition was completed September 4, 2026

The filing

CompanyFranklin Electric (FELE)
Form8-K, current report
Filed with the SECSep 8, 2026, 12:41 PM ET
Accession number0000038725-26-000062

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed3.02 Unregistered Equity Sale7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 08, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.