Core & Main to acquire Maskell Pipe & Supply, signs definitive agreement to acquire DCL Fabrication & Supply Inc.

Mergers will enhance HDPE pipe solutions and fire protection offerings.

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ST. LOUIS, FEB 4 2019—Core & Main LP, the leading U.S. distributor of water, sewer and fire protection products, announced that it has entered into a definitive agreement to acquire select assets of Maskell Pipe & Supply, Inc., a California-based distributor and fittings fabricator of high-density polyethylene (HDPE) pipe. The company has also announced it has entered into a definitive agreement to acquire substantially all of the assets of DCL Fabrication & Supply Inc. (DCL), one of the leading providers of fire protection product fabrication and distribution in the St. Louis area and broader Midwest region. These acquisitions will mark the fifth and sixth by Core & Main since becoming an independent company in August 2017.

Maskell Pipe has operated as a full-service provider of HDPE pipe and rental equipment since 1975. Its locations in Corona and Tracy, Calif., and Morgantown, W. Va., serve industrial, municipal and environmental customers. In addition to offering HDPE pipe and fittings, Maskell Pipe provides a large rental fleet of fusion equipment used in the field.

"The acquisition of Maskell offers us the opportunity to expand and enhance our HDPE capabilities on both sides of the country, with extensive offerings in affordable rental equipment that our customers use to fuse the pipe during installation," said Steve LeClair, chief executive officer of Core & Main. "Maskell is a leader in the plastic pipe industry with a solid reputation and valuable expertise. The Maskell team will support our effort to offer a variety of options to customers who are modernizing or building new infrastructure across a variety of industries."

HDPE pipe, which is flexible and resists corrosion, can carry potable water, wastewater, slurries, chemicals, hazardous wastes and compressed gases. In addition to the waterworks industries, HDPE pipe serves the oil and gas, and mining industries. Core & Main received the 2018 Municipal Leadership Award from the Alliance for PE Pipe, which includes leaders in the HDPE pipe industry who are committed to the advancement of PE pipe in municipal water systems.

Financial terms in the acquisition of DCL were not disclosed.

"The acquisition of DCL significantly expands and enhances Core & Main's custom fabrication capabilities throughout the Midwest and perfectly positions our combined organization to meet the growing fabrication and product distribution needs of our customers," said Brad Cowles, president of Core & Main Fire Protection. "We're excited to bring the DCL team on board. Under the guidance of Darrell Dick Jr., DCL has become a market-leading player with a keen focus on quality and customer satisfaction that is unparalleled in this area."

Steve LeClair, chief executive officer of Core & Main, said, "This acquisition significantly enhances our position in the region and we look forward to partnering with Darrell and his team to further build upon the solid foundation they've established and excellent reputation they have earned with their loyal customer base."

Darrell Dick Jr., co-owner and vice president and operations manager of DCL, will serve as the branch operations manager following the acquisition. He commented, "We have a long-standing presence in our region and we have grown our business steadily over the last 15 years. We are thrilled to join the Core & Main family, which will provide tremendous opportunity to further develop our business throughout the Midwest, as we continue to provide first-class service to our customers. We were particularly attracted to Core & Main's family-oriented culture and the value they placed on the expertise our associates will bring to the table."

About Core & Main
Based in St. Louis, Core & Main is the largest distributor of water, sewer, storm drain and fire protection products in the United States. Operating more than 250 branches nationwide, the company combines local expertise with a national supply chain to provide contractors and municipalities innovative solutions for new construction and aging infrastructure. Core & Main's 3,000 plus associates are committed to the safe distribution of water and fire protection to help communities thrive. Visit www.coreandmain.com to learn more.

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