Brown Deer-based Badger Meter Inc. has agreed to acquire its Denver-based distributor National Meter and Automation Inc. through a stock purchase.
The acquisition, expected to close Oct. 1, will add about $15 million in incremental revenues for the water flow measurement and control products manufacturer.
National Meter is a major distributor for Badger Meter’s municipal water utility customers in Colorado, California, Nevada, Arizona and southern Wyoming. It also provides services including meter testing, leak detection, water audits, meter and meter reading system installation and meter reading.
The company’s facility will become a regional distribution center for Badger Meter, and its founders, Noel Frakes and Frank Milliron, will continue to lead the operations.
“National Meter is one of our leading distributors and we have developed an excellent and mutually-rewarding relationship since the company was formed in 2004,” said Richard Meeusen, chairman, president and chief executive officer of Badger Meter. “We sell a significant amount of our products through distributors, who have close relationships with our customers and provide important sales, technical and operational support at a local level. The addition of National Meter will not only further integrate Badger Meter into this key sales channel, but also will benefit our other distributor relationships and our customers.”
In July, Badger Meter reported its best second quarter in company history, driven by higher sales of municipal water products, with net sales of $95.7 million and net earnings of $4.8 million.
