Acquisition Provides Access to Affiliated Dealer Network for Residential
Water Treatment Business
LONDON--(BUSINESS WIRE)--
Pentair plc (NYSE:PNR), a leading water treatment company, today
announced that it has completed the acquisition of Aquion for $160
million in cash, subject to customary post-closing adjustments.
Headquartered outside Chicago, with approximately 170 employees, Aquion
offers a diverse line of water conditioners, water filters,
drinking-water purifiers, ozone and ultraviolet disinfection systems,
reverse osmosis systems and acid neutralizers for the residential and
commercial water treatment industry.
“The addition of Aquion and its affiliated dealer network, offering
complete systems and solutions, highly complements Pentair’s value chain
in residential water offerings,” said John L. Stauch, Pentair President
and CEO. “Through this acquisition, we are looking forward to providing
consumers with more choices to meet their water needs.”
ABOUT PENTAIR PLC
At Pentair, we believe the health of our world depends on reliable
access to clean water. We deliver a comprehensive range of smart,
sustainable water solutions to homes, business and industry around the
world. Our industry leading and proven portfolio of solutions enables
our customers to access clean, safe water. Whether it’s improving,
moving or enjoying water, we help manage the world’s most precious
resource. Smart, Sustainable Water Solutions. For Life.
Pentair had revenue in 2018 of $3 billion, and trades under the ticker
symbol PNR. With approximately 130 locations in 34 countries and 10,000
employees, we believe that the future of water depends on us. To learn
more, visit Pentair.com.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains statements that we believe to be “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements made about the acquisition, including
the anticipated benefits of the acquisition, are forward-looking
statements subject to risks and uncertainties, such as the company’s
ability to integrate the acquisition successfully, as well as other risk
factors contained in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year ended
December 31, 2017. All forward-looking statements speak only as of the
date of this release. Pentair plc assumes no obligation, and disclaims
any obligation, to update the information contained in this release.
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Jim Lucas
Senior Vice President, Investor Relations and Treasurer
Tel:
763-656-5575
Email: jim.lucas@pentair.com
Rebecca Osborn
Senior Manager, External Communications
Tel:
763-656-5589
Email: rebecca.osborn@pentair.com
Source: Pentair plc