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Franklin Electric acquires assets of Midtronics Stationary Power division

Jul. 03, 2018 6:55 AM ETFranklin Electric Co., Inc. (FELE) StockBy: Niloofer Shaikh, SA News Editor
  • Franklin Electric (NASDAQ:FELE) completed the acquisition of the Stationary Power Division of Midtronics, Inc. for an undisclosed term.
  • Stationary Power Division will be combined with the existing Grid Solutions business of Franklin Electric Fueling Systems.
  • SPD had annual sales of ~$8M in FY2017.
  • The Company expects this acquisition to be accretive to 2019 earnings per share.
  • Press Release

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