Good day and thank you for standing by. Welcome to the Franklin Electric Complete Acquisition of New Aqua LLC conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to your first speaker today, Mr. John Haines, Chief Financial Officer. Please go ahead. Thank you, RJ, and good day, everyone. Welcome to this special Franklin Electric conference call to provide a little more detail on the acquisition announcement we made today of New Aqua LLC. With me today on the call is Gregg Sengstack, our Chairperson and CEO. We have a slide presentation for this call that we posted to our website, franklin-electric.com, under the Company and Investor Relations section, and it's also accessible through the link we provided in the press release earlier today. We'll step through this by page number and then have a little time for questions at the end. Before we begin, however, let me remind you that as we conduct this call, we will be making forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties, many of which could cause actual results to differ materially from such forward-looking statements. A discussion of these factors may be found in the company's annual report on Form 10-K. All forward-looking statements made during this call are based on information currently available, and except as required by law, the company assumes no obligation to update any forward-looking statements. With that, let's start on slide three of our presentation material. Today, we announced the acquisition of New Aqua LLC, a residential and commercial water treatment and drinking water equipment company that is based near Indianapolis, Indiana. Aqua is a leader in water treatment in the Midwest and in 2020 had full-year revenues of about $68 million and EBITDA margins of about 17%. Total consideration for the transaction was $150 million, so in total we paid about 13x trailing EBITDA. Right now, we think we'll have between $0.04 and $0.06 of EPS accretion due to this transaction in the calendar year ending December 31st, 2021, which raises our full-year EPS guidance to a range of $2.85-$3.05. Turning now to slide four. As I mentioned, Aqua is a leader in the Midwestern part of the U.S. in point-of-entry and point-of-use water treatment equipment. They have a great brand and market presence through their commercial reach. Aqua also owns a Wisconsin-based company called Hellenbrand that they acquired back in early 2019. Hellenbrand is a highly recognized water treatment brand in that market. Combined, Aqua has relationships with almost 600 water quality dealers, and we'll spend a bit more time talking about that in a minute. They also have 14 company-owned service and sales centers and about 230 employees. Turning now to slide five. Here are some of the key strategic rationales for the transaction. I won't read these to you, but we now have a collection of four great water treatment properties. Aqua provides real scale, great brands, and leading market presence in the Midwest. Most importantly, it provides access to almost 600 water quality dealers, which is a new wholesale channel for Franklin and allows us to get closer to our customers. Aqua has a compelling portfolio of both residential and commercial product offerings and provides Franklin a platform that we can jump off of for further growth, synergies, technology deployments, and eventually the possibility of international expansion. Finally, we know through our own Headwater distribution segment that water treatment is a logical product extension from groundwater, and many of our Headwater and non-Headwater distribution customers in the groundwater space are making this extension to grow their businesses. This is a great opportunity that Franklin is uniquely prepared to capitalize on. Looking now at slide six, this is a quick summary of the Franklin Electric water treatment properties, starting at the bottom with our acquisition of First Sales in 2019 and two acquisitions this quarter of Puronics and Aqua. In total, we estimate the annual run-rate revenues from all of Franklin's water treatment assets at over $140 million. We expect annual water treatment revenue growth in the high single digits. Looking now at slide seven, this is a map view of our water treatment properties where the colors match up to the brands we have acquired at the bottom of the slide. As you can see, we have a strong presence in the Midwest, California, and Canada, and our position to continue to grow both organically and inorganically due to the high fragmentation of water treatment providers in North America. Looking now at slide eight, this is our estimate of the $2.7 billion addressable market in North America. We divided the market into three broad categories. Water quality dealers, both independent or company-owned, are just under 60% of our total addressable market and why we think it is so important to build relationships and serve this critical channel. Wholesalers consist of both plumbing and groundwater customers. This is a space FE knows well, as a significant portion of our North American water systems product sales go through these channels. Finally, there are emerging do-it-yourself and traditional retail channels that we estimate have about 20% of this addressable end market. This is not where our focus will be, as we focus on the wholesale customers with which we have the greatest experience and knowledge. As I said earlier, there's a great opportunity to apply the multi-channel, multi-product commercial competency Franklin has built over the years to serve the water treatment end markets as well. Finally, on slide seven, this is a look at those end markets and where Franklin's water treatment brands lay up against it. The $2.7 billion addressable market are the green values at the bottom. As we said, our focus is on the water quality dealer and wholesale channels because we believe that is the largest opportunity and leverages our existing competencies. This concludes our prepared remarks, RJ, and we would now like to turn the call over for questions. As a reminder, if you would like to ask a question over the phone line, please press star and the number one on your telephone keypad. Again, that is star one. Your first question comes from the line of Matt Summerville from D.A. Davidson. Your line is open. Hey, just a couple of quick questions. Can you talk about, in the channels that you're addressing here, who you view as your major competitors, and then how are your water quality products, would you say, differentiated versus that competitive set? Thank you. Yeah, so the major competitors here, Matt, good afternoon, by the way, Culligan, Kinetico, of course, A. O. Smith, Pentair have businesses and platforms in this space. So they would be in the group of competitors I mentioned earlier that we still believe this is a pretty fragmented space, and we think that there's going to be inorganic and organic growth opportunities in the future. And in terms of the products, I would say the real differentiation here is the service and commercial model that Aqua and the rest of our properties deploy. As you may or may not know, Matt, the way we are, in some cases, fully integrated and extended through these water quality dealers, meaning that the water quality dealer, in some cases, is a company-owned retail outlet that you or I, as homeowners, could go to, take our water, have it tested, and then hear from a professional right on scene what the potential water conditioning or water treatment solution for that is, contract for that solution, contract for the ongoing maintenance and supply of product for that solution. That, in some cases, is the model. In other cases, when we say, Matt, the owned water quality dealers, that's what we're describing there, is that we actually are fully integrated through to that retail establishment. In other water quality dealers, it feels more like a wholesale relationship. So it's a water quality dealer that's established themselves in a particular end market, and then they procure from us the products that we manufacture and assemble. So that, I think, on the commercial side is really where the key differentiation is. So if you look across the $140 million-ish in revenue you're generating on a run-rate basis today in water treatment, how much would you say comes from more of an OE type of product sale versus after-sales support, replacement filters? Maybe I'll just call all of that aftermarket. So what's the OE kind of aftermarket split of the business? Yeah, it's 70/30, Matt, the original equipment and then 30% of the aftermarket. Aqua actually has a water bottling business. They sell a fair amount of salt, those types of things, but the bulk of the sales, for sure, are the original equipment sales. Got it. That's all I have. Thank you. Thanks, Matt. If you would like to ask a question, please press star one. And we have no other questions, so we're at the phone line at this time. Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now.