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Pentair Completes Sale of Lincoln Industrial and Century Service Equipment
12.21.2001
ST. PAUL, Minn., Dec 21, 2001 /PRNewswire via COMTEX/ -- Pentair (NYSE: PNR) announced today it has completed the sale of its wholly owned Lincoln Industrial automated lubrication and materials dispensing business to a company newly formed by The Jordan Company LLC of New York, N.Y. Pentair also said it completed the sale of its wholly owned Century Mfg. Co. automotive service equipment business to Clore Automotive, a business formed by K&K Jump Start-Chargers, Inc. and a Kansas City, Mo., equity investment group. The divestitures of Lincoln Industrial and Century were previously announced on July 20, 2001, and June 14, 2001, respectively.

Pentair did not disclose details of the transactions, but said it will use the proceeds from the sale to reduce debt.

The Jordan Company is a New York-based private investment firm that specializes in buying and building companies in partnership with management.

Clore Automotive is a privately held manufacturer of jumpstarter/portable power units and battery chargers, based in Kansas City, Mo.

Pentair ( http://www.pentair.com ) is a St. Paul-based manufacturer whose core businesses compete in tools, water technologies, and enclosures markets. The company employs 12,000 people in more than 50 locations around the world.

    Contact:  Mark Cain for Pentair, +1-651-639-5278.

SOURCE Pentair

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