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Acquisition Provides Additional Aftermarket Product Offerings in Water and Air Filtration
LONDON, October 18, 2021--(BUSINESS WIRE)--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.
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