LONDON--(BUSINESS WIRE)--Pentair plc (NYSE:PNR), a leading water treatment company, today announced that it completed the acquisition of Pelican Water Systems for $120 million in cash, subject to customary adjustments. Headquartered in DeLand, Fla., Pelican Water Systems has 79 employees and provides residential whole home water treatment systems.
“We are excited about the addition of Pelican Water Systems for the new growth opportunities it brings to Pentair and for the innovative products and services we can bring to consumers, enhancing where, how and when they can buy their water treatment solutions,” said Pentair President and CEO John L. Stauch.
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 anticipated acquisition, including
the anticipated benefits of the acquisition, are forward-looking
statements subject to risks and uncertainties, such as the company’s
ability to close the acquisition on the expected terms and schedule, and
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.
