Experience

INDUSTRIAL PRODUCTS TRANSACTION

Integris Partners advised National Meter and Automation, Inc., in its recent sale to Badger Meter (NYSE: BMI). Founded in 2004 and based in Centennial CO, National Meter distributes flow measurement products to the water utility industry from its locations in Arizona, California, Colorado and Kansas. The Company’s products comprise some of the industry's most advanced water meters and communication modules, including systems from Badger Meter, Itron and Flowpoint Systems among others. In addition, National Meter offers a broad range of services, including installation, meter reading, technical support, and meter testing. This transaction represents Badger Meter's acquisition of one of its largest distributors, and its further integration of the water utility channel.

Noel Frakes, CEO of National Meter, said, “The Integris team helped us to achieve our financial goals and to consummate a successful transaction with a trusted partner. We are excited for the potential of the combined businesses and for the chance to build on what has already been a successful relationship with Badger Meter. The dynamics of the water sector in the Western US mean that busy times will continue across our extensive footprint.”

Frank Milliron, Vice President of National Meter also added, “National Meter has enjoyed tremendous success the last several years, particularly with respect to the expansion of our service offerings. Integris delivered an excellent result that capitalized on our recent growth and positioned the Company well for the future. The flexibility that Badger is providing us to run the business as National Meter and using all the tools that got us this far is also a great result for our staff and customers.”

Legal advice to National Meter was provided by Brownstein Hyatt Farber & Schreck.

Based in Milwaukee, Wisconsin, Badger Meter is a leading manufacturer of flow measurement and control technologies for water, oil & gas, chemical, irrigation and aviation markets. Terms of the transaction were not disclosed.

For further information, please contact Robert Heilbronner, Ethan Furtek or Jared Syke.