Item 2. PROPERTIES

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Item 2. PROPERTIES

Our principal office is located in leased premises in London, U.K., and our management office in the U.S. is located in leased premises in Golden Valley, Minnesota.

Our operations are conducted in sites throughout the world. These sites house manufacturing and distribution operations, as well as sales and marketing, engineering and administrative offices. The following is a summary of our principal properties as of December 31, 2025, including manufacturing, distribution, sales offices and service centers:


		No. of Sites
	Location	Manufacturing	Distribution	Sales and Corporate Offices	Service Centers
Flow	U.S. and 14 foreign countries	21	10	4	8
Water Solutions	U.S. and 5 foreign countries	14	4	3	—
Pool	U.S. and 2 foreign countries	5	15	4	2
Corporate	U.S. and 2 foreign countries	—	—	3	—
Total		40	29	14	10

We believe that our production sites, as well as the related machinery and equipment, are well maintained and suitable for their purpose and are adequate to support our businesses.

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