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WICOR TO ACQUIRE CALIFORNIA COMPANY

 MILWAUKEE, July 14 /PRNewswire/ -- WICOR, Inc. (NYSE: WIC), the parent company of Wisconsin Gas and Sta-Rite Industries, has approved the acquisition of Carr-Griff, Inc., commonly known as "SHURflo," a privately held manufacturer and marketer of pumps for the beverage, recreational vehicle and marine, industrial and water markets. SHURflo is based in Santa Ana, California.
 The announcement was made July 14 by Stuart W. Tisdale, chairman and chief executive officer of WICOR.
 The transaction will be completed as a stock-for-stock exchange and accounted for as a pooling of interests. The total value of the stock transaction is approximately $27 million. Closing is subject to the execution of a definitive agreement, certain filing requirements and other customary pre-closing conditions, Tisdale said. He said the transaction is expected to be finalized by the end of the month.
 "SHURflo is a profitable, growing, well-established company that is a good strategic fit with WICOR's non-utility businesses," Tisdale said. "The acquisition complements our existing pump and filtration operations and also creates opportunities for extension into new markets."
 Tisdale said SHURflo's 1992 sales were about $42 million. The company's products primarily are sold to original equipment manufacturers and the replacement market in four market segments:
 -- Beverage market. High-performance demand pumps and accessories for beverage dispensing applications.
 -- RV/marine market. Potable water delivery pumps for recreational vehicles and marine applications.
 -- Industrial market. Pumps for agricultural spraying, remote area watering, soil extraction (carpet cleaning) and other applications.
 -- Water market. Pressure boosting pumps for reverse osmosis water filtration systems.
 Tisdale said WICOR intends to retain SHURflo's current management and that SHURflo president John Casey would continue in his position. Tisdale also said the 25-year-old company would continue to be headquartered in California.
 In addition to its manufacturing operations in Santa Ana, SHURflo has a small distribution center in Elkhart, Ind., and an assembly warehouse in England. Most of the company's 400 employees work at the California plant.
 WICOR (NYSE: WIC) is a Milwaukee-based holding company. Its primary subsidiaries are Wisconsin Gas Company, the state's largest distributor of natural gas, and Sta-Rite Industries, Inc., a leading manufacturer of pumps and water processing equipment for markets throughout the world.
 -0- 7/14/93
 /CONTACT: (Media) David Fantle 414-291-6930, (Analysts) John Hoy, 414-291-6568, both of WICOR/
 (WIC)


CO: WICOR, Inc.; Carr-Griff, Inc. ST: Wisconsin IN: UTI SU: TNM

KE -- DE030 -- 1599 07/14/93 16:38 EDT
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Date:Jul 14, 1993
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