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Core & Main Signs Agreement to Acquire Dana Kepner

Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, has entered into a definitive agreement to acquire Dana Kepner Company LLC, and associated entities. Dana Kepner is a distributor of water, wastewater, storm drainage, and geotextile products, along with specialty tools and accessories. The acquisition is subject to regulatory approval and other customary closing conditions.

“The team at Dana Kepner recognizes the importance of providing local expertise to its customers in the waterworks industry. Like the Core & Main team, they add value by serving as knowledgeable and trusted advisors to municipalities and contractors,” said Steve LeClair, chief executive officer of Core & Main. “We are excited about this opportunity to extend our geographic reach, expand the range of products and services that we offer, and add key talent into our organization.”

Founded in 1933 and based in Denver, Colorado, Dana Kepner has 19 locations across the U.S., operating in Arizona, Colorado, Connecticut, Massachusetts, Nevada, Rhode Island, Texas and Wyoming. The team offers a variety of waterworks products, including pipes, valves and fittings, as well as meters and meter accessories.

“Dana Kepner’s team is actively engaged in industry associations committed to advancing waterworks infrastructure, and they have earned their position as a highly credible partner in the communities they serve. The team’s solid reputation aligns with our core values as a sales-driven organization that puts people first. I look forward to seeing how we can grow together with our shared focus on developing industry experts,” said Jack Schaller, president of Core & Main.

Dave Wickett, president and chief executive officer of Dana Kepner, said, “We at the Dana Kepner Company are excited to combine our regional knowledge and relationships with the nationwide reach of Core & Main. Together, we will create the momentum to serve and supply the water and wastewater industry with unmatched excellence.”

About Core & Main

Based in St. Louis, Core & Main 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 U.S., 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. Visit to learn more.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning Core & Main’s financial and operating outlook, as well as any other statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “forecasts,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “outlook,” “believes,” “estimates,” “predicts,” “potential,” “continue,” “preliminary,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

“We are excited about this opportunity to extend our geographic reach, expand the range of products and services that we offer, and add key talent into our organization.”


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