Franklin Electric Enters Into Agreement to Acquire Challenge Pumps, Strengthening Global Mineral Extraction Dewatering Platform

Franklin Electric announced a definitive agreement to acquire Challenge Pumps Holdings Pty Ltd for approximately US$181 million in cash, plus up to US$14 million in contingent consideration. Challenge Pumps, a leading underground mine dewatering solutions provider based in Perth, Australia, generated US$52 million in FY2026 revenue with 35% EBITDA margins. The acquisition is expected to close in 2026 and be accretive to Adjusted EPS by 2027, adding recurring aftermarket revenue and expanding Franklin Electric's mineral extraction capabilities.