Pentair (NYSE:PNR), a provider of water treatment and sustainable solutions, says it has completed its transaction to acquire Pleatco for approximately $255 million in cash, subject to customary adjustments.
Pleatco manufactures water filtration and clean air technologies for pool, spa and industrial air customers.
The acquisition provides Pentair additional replacement filter products to be sold through Pentair’s existing pool and spa distribution channels, as well as through Pleatco’s distribution channels, Pentair said.
Pleatco also brings complementary air filtration products to serve the needs of Pentair’s industrial customers.
“We are excited about the addition of Pleatco as it provides additional aftermarket product offerings for both our pool filtration and industrial air filtration portfolios,” said John Stauch, Pentair president and CEO. “The track record of product innovation by the team at Pleatco aligns with our commitment to deliver smart, sustainable solutions to help our customers make the most of life’s essential resources.”
Pentair had revenue in 2020 of $3 billion, and trades under the ticker symbol PNR.
The company has approximately 9,750 global employees serving customers in more than 150 countries.