Franklin Electric Co Inc's Franklin Fueling Systems Announces Acquisition Of Flex-ing Inc.

Franklin Electric Co Inc's Franklin Fueling Systems announced that it has completed the acquisition of certain assets of Flex-ing Inc. of Sherman, Texas. Flex-ing designs and manufactures a variety of fueling equipment that is distributed through the same channels as the core product offering of Franklin Fueling Systems. Key products being acquired in this transaction include stainless steel flexible hose connectors, composite manhole covers and curb pump hose. Calendar year 2012 sales for Flex-ing will be approximately $13 million. Franklin Electric has agreed to pay $10.8 million in an all cash transaction. The Company believes Flex-ing will be accretive to 2013 earnings per share and will effectively integrate all of Flex-ing's operations into its Fueling Systems headquarters in Madison, WI.