Core & Main Inc. (NYSE: CNM), a prominent player in the infrastructure industry, has announced the signing of a definitive agreement to acquire the majority of assets belonging to EGW Utilities, Inc., a Texas-based distributor renowned for its high-quality products and services.
Steve LeClair, the chairman and CEO of Core & Main, expressed enthusiasm about the acquisition, stating, “The integration of EGW’s knowledgeable team and their technical expertise will significantly enhance our product range and service capabilities within the underground utility domain.”
EGW Utilities, headquartered in Carrollton, Texas, has been a reliable provider of underground utility infrastructure solutions since 2001. The company’s dedication to excellence and strong customer relationships has been pivotal in its ability to support clients in successfully completing their projects.
Brad Cowles, president of Core & Main, highlighted the compatibility between the two companies, remarking, “EGW represents a strategic and cultural synergy for us. This merger will not only increase our operational capacity but also open up new growth avenues for EGW’s employees and deliver additional value to our customers.”
Phil Wiegers, the founder and CEO of EGW, reflected on the company’s two-decade-long journey of innovation and customer service. “Our commitment to integrity and quality aligns with Core & Main’s values, which was a decisive factor in our decision to unite. I am confident that this partnership will secure a prosperous future for our team and lead to remarkable achievements,” he added.
The acquisition is expected to close following customary regulatory approvals, marking a new chapter for Core & Main as it continues to expand its service offerings and reinforce its commitment to advancing reliable infrastructure across the nation.