Core & Main Inc. is expanding its business with the acquisition Midwest Pipe Supply Inc. in Clear Lake Iowa, a distributor for drainage and waterworks. Core & Main Inc. (NYSE: CNM), the growing Maryland Heights-based distributor of water, wastewater, storm drainage and fire protection products, is expanding with the acquisition of Midwest Pipe Supply Inc., a distributor based in Clear Lake, Iowa, that distributes drainage and waterworks products.
Core & Main stated that Midwest Pipe Supply, founded in 2002, "has established itself a dependable supplier of drainage, septic, and waterworks solutions." Midwest Pipe, according to the report, offers a variety of products to contractors as well as municipalities and agricultural customers in Iowa.
Core & Main was formed in 2017, and became public in July of 2021. This is the company's latest acquisition. It also bought UPSCO, a New York-based manufacturer of utility infrastructure. It acquired Landscape & Construction Supplies LLC in Chicago, a supplier for silt fences, erosion control materials and drainage products.
Core & Main's fiscal 2022, which ended on Jan. 29, 20,23, saw a net profit of $581 millions on sales of $6.7 billion. This compares to a net loss of $225 on sales of $5 billion during fiscal 2021.
Jack Schaller said that Core & Main president Jack Schaller in a press release that Midwest Pipe "dedication to provide its customers with exceptional service and depth of knowledge their team brings within the local market" will make it a wonderful addition to Core & Main.