Who Owns Canada Waterworks?

Canada Waterworks was founded in 1995 as an independent distributor of water, wastewater, and storm drainage products in Canada. The company was established to serve the growing demand for water infrastructure products from Canadian municipalities, water utilities, and professional contractors. Canada's water infrastructure market is substantial, driven by the need to maintain and upgrade aging municipal water systems, expand water and wastewater infrastructure in growing communities, and comply with increasingly stringent water quality and environmental regulations.

Throughout its history as an independent company, Canada Waterworks built a reputation for quality products, technical expertise, and reliable service in the Canadian water infrastructure market. The company developed strong relationships with municipalities, water utilities, and professional contractors across Canada, becoming a trusted supplier of pipes, valves, fittings, meters, and other water infrastructure products.

Canada Waterworks operated multiple locations across Canada, including its main operations and its Ottawa branch (Canada Waterworks Ottawa Inc.), serving customers in different regions of the country. The company's multi-location presence allowed it to serve customers across a broad geographic area while maintaining the local expertise and relationships that are important in the water infrastructure distribution market.

The Canadian water infrastructure market is characterized by significant ongoing investment in water and wastewater infrastructure by federal, provincial, and municipal governments. Canada's aging water infrastructure requires substantial investment in replacement and rehabilitation, and population growth in major urban centers drives demand for new water and wastewater infrastructure. These factors support sustained demand for the water infrastructure products distributed by Canada Waterworks.

Core & Main Inc. was formed in 2017 when private equity firm Clayton, Dubilier & Rice (CD&R) acquired the water and fire protection products distribution business of HD Supply Holdings. Core & Main went public on the New York Stock Exchange in July 2021 under the ticker symbol CNM. The company has grown significantly through both organic expansion and strategic acquisitions, building a network of more than 370 branches across North America.

Core & Main entered the Canadian market approximately one year before the Canada Waterworks acquisition, establishing an initial presence in Canada. The acquisition of Canada Waterworks in September 2025 represented a significant expansion of Core & Main's Canadian platform, adding Canada Waterworks' established customer relationships, branch locations, and local market expertise to Core & Main's North American distribution network.

Following the acquisition, Canada Waterworks continues to operate as a distinct brand within Core & Main's portfolio, maintaining its Canadian market identity and customer relationships while benefiting from Core & Main's extensive product portfolio, supplier relationships, and operational resources. The integration of Canada Waterworks into Core & Main's platform is expected to enhance Canada Waterworks' ability to serve Canadian customers with a broader range of products and services.