Pentair Completes Transaction to Acquire Pleatco
October 18 2021 - 4:25PM
Business Wire
Acquisition Provides Additional Aftermarket
Product Offerings in Water and Air Filtration
Pentair plc (NYSE:PNR), a leading provider of water treatment
and sustainable solutions, today announced that it completed the
previously announced transaction to acquire Pleatco for
approximately $255 million in cash, subject to customary
adjustments. Pleatco manufactures water filtration and clean air
technologies for pool, spa and industrial air customers.
“We are excited about the addition of Pleatco as it provides
additional aftermarket product offerings for both our pool
filtration and industrial air filtration portfolios,” said John
Stauch, Pentair President and CEO. “The track record of product
innovation by the team at Pleatco aligns with our commitment to
deliver smart, sustainable solutions to help our customers make the
most of life’s essential resources.”
The acquisition of Pleatco provides Pentair additional
replacement filter products to be sold through Pentair’s existing
Pool and Spa distribution channels as well as through Pleatco’s
distribution channels. Additionally, Pleatco brings complementary
air filtration products to serve the needs of Pentair’s industrial
customers.
“We are pleased to become a part of Pentair,” said Seth Soltow,
Pleatco President. “With Pentair’s global presence, we look forward
to growing our distribution and sales channels to bring our pool,
spa and industrial air filtration technologies to customers around
the world.”
ABOUT PENTAIR PLC Pentair makes the most of life’s
essential resources. From our residential and business solutions
that help people move, improve and enjoy their water, to our
sustainable innovations and applications, we deliver smart,
sustainable solutions for life.
Pentair had revenue in 2020 of $3 billion, and trades under the
ticker symbol PNR. With approximately 9,750 global employees
serving customers in more than 150 countries, we work to help
improve lives and the environment around the world. To learn more,
visit pentair.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211018005968/en/
Jim Lucas Senior Vice President, Treasurer, FP&A
and Investor Relations Tel: 763-656-5575 Email: jim.lucas@pentair.com
Rebecca Osborn
Senior Manager, External
Communications Tel:
763-656-5589 Email:
rebecca.osborn@pentair.com
Pentair (NYSE:PNR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Pentair (NYSE:PNR)
Historical Stock Chart
From Sep 2023 to Sep 2024