Badger Meter, Inc. announced it has signed a stock purchase agreement to acquire National Meter and Automation, Inc. (National Meter), based in Denver, Col. The purchase is estimated to add approximately $15 million of incremental revenues to Badger Meter, after eliminating what would be intercompany sales. National Meter is a major distributor of Badger Meter products for the municipal water utility market, serving customers in Colorado, California, Nevada, Arizona and southern Wyoming.
“National Meter is one of our leading distributors and we have developed an excellent and mutually-rewarding relationship since the company was formed in 2004. We sell a significant amount of our products through distributors, who have close relationships with our customers and provide important sales, technical and operational support at a local level. The addition of National Meter will not only further integrate Badger Meter into this key sales channel, but also will benefit our other distributor relationships and our customers,” said Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter.
Meeusen said National Meter will become a regional distribution center for Badger Meter. In addition to its primary product line of water meters and meter reading systems, National Meter also provides services including meter testing, leak detection, water audits, meter and meter reading system installation and meter reading. National Meter will continue to be led by its founders Noel Frakes and Frank Milliron. “We are pleased to welcome National Meter’s leadership team and employees to Badger Meter,” said Meeusen.
The acquisition is expected to close on October 1, 2014.