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Founder / Operator·Smart Water

Ken Bockhorst

Chairman, President & CEO at Badger Meter

Milwaukee, WI

KB
LinkedIn
Why they matter

Runs the highest-growth public smart-water-metering pure-play. Most relevant operator comp for the cellular AMI transition.

Background

Chairman, President, and CEO of Badger Meter (NYSE: BMI). Joined Badger Meter in October 2017 as COO; promoted to President & CEO January 2019 and Chairman January 2020. Badger Meter posted record net sales of $826.6M in 2024 (+18% YoY), with a 13% sales CAGR from 2019-2023. Company offers cellular AMI smart-water-metering and the BlueEdge suite for water-cycle management.

Notable deals

  • 2024
    Drove Badger Meter to $826.6M in net sales in 2024. A record, up 18% YoY.
  • 2025
    Announced key executive leadership changes to expand cellular AMI and BlueEdge market leadership.

Call-prep brief

Background

Badger Meter is the standout growth story in smart-water metering. Fully cellular AMI architecture (vs. legacy fixed-network), accelerating customer-mix shift, and stable margins. Ken has overseen the inflection from steady ~5-6% growth to the 13%+ CAGR range.

What he cares about

  • Cellular vs. fixed-network AMI. The architectural debate that's reshaping water-metering capex.
  • BlueEdge platform expansion. Water-quality monitoring + leak detection + pressure management on top of metering.
  • Utility procurement cycle dynamics.

Sensitivities

  • Public-company CEO; investor-relations rules apply.
  • Don't probe specific customer wins.

Questions to ask

  1. How does cellular AMI penetration look over 2026-2028 vs. competing fixed-network architectures?
  2. Which BlueEdge adjacent modules are growing fastest as a share of revenue?
  3. Where does he see consolidation among smaller water-tech players over the next 2-3 years?

Outreach draft

Subject
Cellular AMI thesis: your view
Mr. Bockhorst, I lead infrastructure investing at [Firm]. Badger Meter's cellular AMI architectural lead and 18% growth in 2024 make it the central comp for our smart-water thesis, and your perspective from the CEO seat would be uniquely valuable. Would 25 minutes work in the next two months? Best regards, [Your name] [Your firm]

Linked companies

Sources