Pentair plc ( PNR ) is a diversified multinational industrial corporation incorporated in Ireland with a tax residency in the United Kingdom, with a US headquarters located in Minneapolis, Minnesota. Pentair is founded in the US, where approximately half of the company's revenue comes from 2015. However, the PNR is reorganized in 2014, shifting the company's domicile from Switzerland to Ireland.
Until a massive restructuring in 2004, the company is mainly an industrial tool manufacturer. Now, the company's main focus is the control of water and fluids used in energy, food & amp; beverage and manufacturing industries and infrastructure. Fiscal year 2015 revenue is US $ 6.43 billion and employs over 30,000 people worldwide.
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History
Pentair was founded in August 1966 as Pentair Industries, Inc., with a name derived from the Greek root "penta-" (referring to the five founders of the company), and going public a few months later.
Mergers and acquisitions
Pentair expanded its water products business, acquired the Fleck Controls control valve business in November 1995. In August 1997, Pentair acquired the General Signal Pump Group.
In 1999 under chairman, president, and chief executive officer, Winslow H. Buxton, Pentair made a series of acquisitions. In April 1999, PNR bought Essef, a global leader in the manufacture of composite water tanks, pumps, filters and other water equipment used in pools and spas, for cash equivalents of around $ 312 million.
In August 1999, Pentair bought DeVilbiss Air Power Company for $ 460 million in cash. DeVilbiss makes air compressors, pressure cleaners and generators, equipped with Pentair professional Pneumatics tools powered by air compressors such as DeWalt and Porter-Cable.
In 2004, Pentair bought WICOR Industries, a former subsidiary of Wisconsin Energy's water system, for $ 850 million. WICOR makes water pumps, filters, and components of swimming pool equipment under the Sta-Rite, SHURflo, and Hypro brands.
In 2005, Pentair purchased several APW assets of $ 144 million, including McLean Thermal Management, Aspen Motion Technology, and Electronic Solutions, all of which provide thermal management products and integration services to the telecommunications, medical, and security industries. It extends Pentair's technical product line to include markets outside traditional electricity and electronics businesses.
In 2006, Pentair purchased German-based Jung Pumpen GmbH, which manufactures pumps and other wastewater treatment products. The deal was completed in early 2007 of $ 227 million.
Other acquisitions in 2005 and 2006 included Acu-Trol, Inc., Delta Environmental Products, selected assets Krystal Klear, and 70% stake in Beijing Jieming Tiandi Environmental Equipment (later renamed Beijing Pentair Water Jieming), which produces fiberglass - tank and filter back pressure.
The Company has announced an agreement to obtain a water filtration and Porous Media separation company of approximately $ 225 million. It is said that it plans to continue an active acquisition program, primarily to expand its business beyond the American market.
In 2012, Pentair Inc. (PNR) and Tyco International Ltd. (TYC) 's business flow control formally combined to create Pentair Ltd. The new company is described as a global manufacturer of "water and fluid solutions, valves and controls, protection equipment and thermal management products". Tyco shareholders now own approximately 52.5% and former Pentair Inc. shareholders. has about 47.5% of Pentair Ltd. After this merger, the new company is based in Schaffhausen, Switzerland, with 30,000 employees and 100 factories in 30 countries. Currently the headquarters are in Worsley, England.
In August 2016, Pentair announced that it had signed an agreement to sell Valves & amp; Controlling the business to Emerson, a global, American-based global industry company. Louis, Missouri. The transaction is anticipated to be completed by the end of 2016 or early 2017 and is subject to customary closing conditions and required regulatory approvals.
Discontinued operation
Pentair has suspended the operations of Century/Lincoln and Lincoln Industrial service equipment. He also left the appliance business with the sales of his power tool group (which previously accounted for 40% of sales) in October 2004 to Black & Decker for nearly $ 800 million.
Separation of nVent
In May 2018, Pentair created a spin off company to control its electric division named nVent. Power Distribution Pentair makes more than $ 2.1 billion in revenues by 2016. nVent go public on NYSE on May 1, 2018.
Maps Pentair
References
External links
- Pentair company website
- Pentair Pool
- Company history
Source of the article : Wikipedia
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