|This article relies on references to primary sources. (December 2012)|
|Traded as||NYSE: PNR
S&P 500 Component
|Industry||Water & Fluid Solutions
Valves & Controls
|Founded||Arden Hills, Minnesota (July 6, 1966 ) |
|Revenue||US$ $7.5 Billion (2013)|
|Employees||30,000 Worldwide (2008)|
Pentair Ltd. is an industrial machinery company headquartered in Schaffhausen, Switzerland, with its main U.S. office located near Minneapolis, Minnesota. With 2013 revenues of US$ 7.5 billion, Pentair employs more than 30,000 people worldwide.
In Oct. 2001, a number of Pentair's Delta unit woodworking tools won top awards from the editors of leading trade publications.
In 2004 Pentair bought WICOR Industries, the former water systems subsidiary of Wisconsin Energy, for $850 million. WICOR made water pumps, filters, and pool equipment components under the Sta-Rite, SHURflo, and Hypro brands.
In 2005 Pentair bought some of the assets of APW for $144 million, including McLean Thermal Management, Aspen Motion Technologies, and Electronic Solutions, 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.
Other acquisitions in 2005 and 2006 included Acu-Trol, Inc., 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), which 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. It has said that it plans to continue an active course of acquisitions, especially to grow its business outside the U.S.
In a major move in 2012, Pentair Inc. (PNR) and Tyco International Ltd. (TYC)’s flow control business formally combined to create Pentair Ltd. The new company is described as a global manufacturer of “water and fluid solutions, valves and controls, equipment protection and thermal management products". Tyco shareholders now own approximately 52.5% and former Pentair Inc. shareholders own approximately 47.5% of Pentair Ltd. Following this merger the new company is based in Schaffhausen, Switzerland, with 30,000 employees and 100 manufacturing plants in 30 countries
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. Pentair then used that money to pay off much of the WICOR acquisition.
- Pentair company profile at Funding Universe
- Company Profile at Reuters
- Pentair Official site
- "Pentair's Delta Tools Win Top Awards from Leading Trade Magazines".
- "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 Thermal Management in Russia". Retrieved 2013-07-12.
- "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.
- "Pentair Buys Acu-Trol". Pool and Spa News. September 18, 2006. Retrieved 2008-10-01.