Sunbelt Business Advisors Facilitates Sale of Granite Water Works Inc. to Core & Main (NYSE: CNM)

News Release | Contact: Kent Kaiser 651-338-1777

MINNEAPOLIS – January 9, 2024 – Sunbelt Business Advisors today announced that the firm provided advisory services to Granite Water Works Inc. of Waite Park, Minnesota, in the sale of substantially all of the company’s assets to Core & Main LP. The transaction was finalized on December 4, 2023.

Based in St. Louis, Core & Main (www.coreandmain.com) is a leader in advancing reliable infrastructure with local service, nationwide. As a leading specialized distributor with a focus on water, wastewater, storm drainage, and fire protection products and related services, Core & Main provides solutions to municipalities, private water companies, and professional contractors across municipal, non-residential, and residential end markets nationwide. With approximately 320 locations across the United States, the company provides its customers local expertise backed by a national supply chain. Core & Main’s 4,500 associates are committed to helping their communities thrive with safe and reliable infrastructure.

Based in Waite Park, Minnesota, Granite Water Works Inc. provides customers with complete solutions for their plumbing and sewage system needs, including tanks, pumps, piping, tubing, erosion controls, and arctic blasters. The company has been serving Stearns County, Minnesota, and the surrounding region since 1990.

“We are pleased to have been able to provide advisory services on this transaction to Granite Water Works and help them join the Core & Main family,” said Sunbelt Business Advisors President Chris Jones.

ABOUT SUNBELT® – Sunbelt® is Minnesota’s largest seller of companies. The Sunbelt Business Advisors Minneapolis office is the largest office in the Sunbelt network with a staff of over 70 advisors, associates, analysts, and business development representatives. The firm provides services to business owners interested in selling their businesses, assistance with merger and acquisition activities, complimentary business value assessments, and advisement for business owners in understanding how to maximize their net proceeds when they exit. The firm provides business brokerage advisory services for companies with revenues from $500,000 to $10 million, as well as finance, exit planning, franchise sales, consulting, and business valuation services. For companies of $10 to 150 million in revenue, the firm offers these services through its M&A division, True North Mergers & Acquisitions. More information about Sunbelt Business Advisors is available at www.sunbeltmidwest.com. More information about True North Mergers & Acquisitions is available at www.tnma.com.

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