Core & Main Completes Acquisition of Granite Water Works Inc., Reaches Agreement to Acquire Lee Supply

Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, on Dec. 6 announced the closing of its previously announced acquisition of substantially all of the assets of Granite Water Works Inc., a provider of water, wastewater and storm drainage products in Minnesota.

“The strong local relationships and commitment to dependable service that Granite Water Works will bring to Core & Main will greatly amplify our capabilities and presence in central Minnesota,” said Steve LeClair, chief executive officer of Core & Main.

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Granite Water Works is a leading distributor of high-quality waterworks and subsurface drainage supplies for contractors and municipalities in central Minnesota. Since 1990, their experienced team has consistently delivered high-quality products and personalized service to their customers from their Waite Park, Minnesota, location.

“Granite Water Works has firmly established itself as a trusted partner to contractors and municipalities in its community,” said Jack Schaller, president of Core & Main. “The depth of local market knowledge its team brings makes it a terrific addition to our existing business, and we look forward to welcoming the team into the Core & Main family.”

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“For over three decades, our team has dedicated itself to delivering superior products and service to meet the drainage and waterworks needs of customers throughout Minnesota,” said Ed Molitor, owner of Granite Water Works. “As a family-owned business, we feel that our company is a good fit for Core & Main’s culture, and we are excited to join an organization that respects our heritage while offering extensive opportunities for future growth.”

On Nov. 14, the entered into a definitive agreement to acquire substantially all of the assets of Lee Supply Company Inc. (Lee Supply), a leading specialty distributor and fabricator of high-density polyethylene (HDPE) pipe and other related services, including HDPE fusion equipment rentals and custom fabrication capabilities.

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Since 1954, Lee Supply has been a preferred supplier and specialty fabricator of engineered HDPE pipe, fittings, pumps and pipe systems, along with providing rental fusion equipment. They provide solutions-based services to municipalities, contractors and other environmental and industrial customers. The company has four locations in Pennsylvania, South Carolina and West Virginia, primarily serving the Eastern United States.

“Lee Supply has a distinguished history and reputation for delivering innovative solutions and providing top-quality products and services. We are confident their team members will bring industry knowledge and capabilities that will greatly enhance our HDPE product and service offerings while providing our customers with additional expertise in fusible pipe applications,” said Steve LeClair, chief executive officer of Core & Main.

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“Lee Supply has built a strong legacy as a proven industry leader under the stewardship of the Lee family,” said Jack Schaller, president of Core & Main. “Their team’s industry knowledge and fabrication capabilities will expand our ability to serve the HDPE industry nationwide, and we are excited to welcome them into the Core & Main family.”

“As a family-owned company, three generations of the Lee family have worked tirelessly to see Lee Supply stay at the forefront of the HDPE fusible pipe industry,” said Mike Lee, chief executive officer of Lee Supply. “The loyal customer relationships we have established through the years will benefit from the additional resources and large national presence of Core & Main. We are thrilled that their team shares our commitment to providing a family-oriented culture that focuses on exceeding customer expectations, and we’re confident they will honor Lee Supply’s heritage well into the future.”

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