Brown Deer-based Badger Meter Inc. is exploring its strategic options, the company confirmed this afternoon.
The company is reportedly in sale talks, according to a report by the Wall Street Journal.
The Journal cites “people familiar with the matter” who say the water and fluid meter manufacturer is at the start of conversations with other industrial companies about being acquired. The paper valued the company at $1 billion.
Richard Meeusen, chairman, president and chief executive officer of Badger Meter, could not be reached for comment. The company instead released a statement in response to the reports:
“While it is the long-standing policy of Badger Meter Inc. not to comment on rumors in the marketplace or media reports, the company confirmed today that it is exploring, on a preliminary basis, various options to enhance shareholder value. There can be no assurance that any action will be taken as a result of this exploration, and the company does not intend to provide further comment at this time.”
Badger Meter nearly doubled its earnings in the first quarter and topped $100 million in quarterly sales for the first time, driven in part by sales increases in municipal water products.
The company has made a couple of its own acquisitions in recent years, including Aquacue Inc. for $14 million in 2013 and National Meter and Automation in 2014.
