Pentair Completes Acquisition of Aquion
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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Source: Pentair plc