St. Louis-based waterworks and infrastructure supplies distributor Core & Main announced Nov. 10 that it completed three acquisitions spanning stormwater management, specialty piping and utility metering.

The businesses generate more than $250 million in combined annual revenue and add 16 locations across the U.S. and Canada. Purchase prices were not disclosed.

The acquisitions include:

• Southwest Stormwater Solutions: Acquired in September, the Phoenix-area company provides proprietary underground stormwater vault systems for municipalities, contractors and civil engineers from one location. Its offerings include precast concrete systems used to manage stormwater.
• Gajeske: Acquired in October, the Houston-based distributor supplies fusible high-density polyethylene pipe and fittings through eight locations across Texas and Oklahoma. It also provides fabrication, equipment rental, field technicians and training, serving markets including water, natural gas, energy, mining and data centers.
• KTI Limited and KTI Utility Services: Acquired in November, the Toronto-area businesses operate seven locations across Ontario and Alberta. KTI distributes utility products and provides turnkey metering and advanced metering infrastructure solutions, including installation and related field services for water, gas and electric utilities.

Core & Main also opened eight greenfield locations year to date — a record for the company.

Preliminary 3Q Results

For its fiscal third quarter ended Nov. 1, Core & Main expects:

• Net sales of $2.12 billion-$2.13 billion, up 2.8-3.3% from $2.062 billion a year earlier.
• Net income of $128 million-$140 million, down 2.1-10.5% from $143 million.
• Adjusted EBITDA of $267 million-$275 million, compared with $274 million.

The distributor attributed pressure on adjusted EBITDA to higher transportation costs and investments in new locations.

Core & Main maintained its fiscal 2026 sales outlook of $7.8 billion-$7.9 billion but narrowed its adjusted EBITDA forecast to $950 million-$960 million from $950 million-$980 million.

The outlook reflects stable municipal demand and acquisition contributions, partially offset by softer-than-expected residential lot development and light commercial activity.

The preliminary sales increase follows 2.5% growth in fiscal 2Q, when net sales reached $2.15 billion and net income rose 6.4% to $150 million.

Core & Main also repurchased a quarterly record $171 million of shares, bringing year-to-date repurchases to approximately $428 million.

The preliminary figures remain subject to revision. Full quarterly results are scheduled for Dec. 8.