Pentair
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This article relies on references to primary sources. (December 2012) |
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| Type | Public |
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| Traded as | NYSE: PNR S&P 500 Component |
| Industry | Water & Fluid Solutions Valves & Controls Technical Solutions |
| Founded | Arden Hills, Minnesota (July 6, 1966) [1][2] |
| Founder(s) | Murray J. Harpole, Vincent Follmer, Vernon Stone, Leroy Nelson and Gary Ostrand.[3] |
| Headquarters | Minneapolis, Minnesota, United States |
| Area served | Worldwide |
| Revenue |  US$ pro forma revenues of approximately $8 Billion |
| Employees | 30,000 Worldwide (2008)[4] |
| Website | Pentair.com |
Pentair Ltd. is headquartered in Minneapolis, Minnesota with its U.S. main office located in Minneapolis, Minnesota. With pro forma revenues of approximately US$ 8 billion, Pentair employs more than 30,000 people worldwide.
Acquisitions
2004: WICOR Industries, the former water systems subsidiary of Wisconsin Energy. WICOR made water pumps, filters, and pool equipment components under the Sta-Rite, SHURflo, and Hypro brands and was bought for $850 million.[5]
2005: Some of the assets of APW were bought for $144 million. Which included McLean Thermal Management, Aspen Motion Technologies, and Electronic Solutions,[6] all of which provide thermal management products and integration services to the telecom, medical, and security industries. This broadened Pentair's technical products line to include markets outside of the traditional electrical and electronics businesses.
In 2006 Pentair purchased Germany-based Jung Pumpen GmbH,[7][8] which makes pumps and other products for wastewater processing. The deal was completed in early 2007 for $227 million.[9]
Other acquisitions in 2005 and 2006 included Acu-Trol, Inc.,[10] Delta Environmental Products, selected assets of Krystal Klear, and a 70% stake in Beijing Jieming Tiandi Environmental Equipment. Which was later renamed to Beijing Pentair Water Jieming, and produces fiberglass-reinforced pressure tanks and filters.
The company has announced an agreement to acquire water filtration and separation firm Porous Media for approximately $225 million and has said that it plans to continue an active course of acquisitions, especially to grow its business outside the US.
Discontinued operations
Pentair has discontinued its Century/Lincoln and Lincoln Industrial service equipment operations. It also exited the tools business with the sale of its power tools group (which had previously accounted for 40% of sales) in October 2004 to Black & Decker for nearly $800 million.[10] Pentair then used that money to pay off much of the WICOR acquisition.
References
- ^ Pentair company profile at Funding Universe
- ^ Company Profile at Reuters
- ^ Pentair mentions its founder
- ^ Pentair Official site
- ^ "Pentair Completes Acquisition of WICOR Industries". PRNewswire. August 2, 2004. Retrieved 2008-10-01.
- ^ "Pentair acquires thermal management company". EETimes. October 17, 2005. Retrieved 2008-10-01.
- ^ "Pentair affirms 2007 profit target, updates Jung Pumpen deal". Marketwatch (The Wall Street Journal). February 6, 2007. Retrieved 2008-10-01.
- ^ "Pentair Expands European Pump Presence with Acquisition of Jung Pumpen GmbH". Find Articles/Business Wire. December 11, 2006. Retrieved 2008-10-01.
- ^ "Pentair Inc · 10-K · For 12/31/06". SEC Info. December 12, 2006. p. 5. Retrieved 2008-10-01.
- ^ a b "Pentair Buys Acu-Trol". Pool and Spa News. September 18, 2006. Retrieved 2008-10-01.
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