Accu Pumps Distributing
has been acquired by
Corporate Finance Associates
Consolidation in the water and wastewater markets left the industry in a constant state of flux. When Earl Nafziger, President and owner of Accu Pumps approached CFA in the spring of 2007, he was tired as a result of long hours, lack of vacations and the constant battle for market share.
Accu Pumps Distributing is Southwestern Ontario's leading distributor of water and wastewater systems and components. Located in Stratford, the company has the worlds best line card of submersible pumps from manufacturers such as Franklin Motors and Groundfos. With revenues approaching $12 million, the company's pre-tax earnings are in excess of 13% of gross revenues as a result of a disciplined selling process.
CFA attracted a host of US and Canadian, strategic and financial buyers to the table, to negotiate the best deal for Earl. A local competitor called Rideau Pipe and Drilling saw an opportunity to build scale, create better barriers to entry from US competitors and virtually double market share overnight. The combined entity now boasts revenues approaching $40 million.
2 months post-acquisition, Earl reported back to indicate that he had already been on two vacations and that he had a new lease on life.