{"id":538358,"date":"2021-09-15T06:53:07","date_gmt":"2021-09-15T10:53:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/"},"modified":"2021-09-15T06:53:07","modified_gmt":"2021-09-15T10:53:07","slug":"pentair-announces-definitive-agreement-to-acquire-pleatco","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/","title":{"rendered":"Pentair Announces Definitive Agreement to Acquire Pleatco"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Pentair Announces Definitive Agreement to Acquire Pleatco<\/b><\/p>\n<p class=\"bwalignc\"><i>Acquisition to Expand Pentair\u2019s Aftermarket Presence in Water and Air Filtration<\/i><\/p>\n<p class=\"bwalignl\">LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPentair plc (NYSE: PNR), a leading provider of water treatment and sustainable solutions, today announced that it has entered into a definitive agreement to acquire Pleatco, a manufacturer of water filtration and clean air technologies for pool, spa and industrial air customers. Pleatco is a current portfolio company of Align Capital Partners, a private equity firm with investment teams in Dallas, TX and Cleveland, OH.\n<\/p>\n<p>\nThe planned acquisition of Pleatco provides Pentair an expanded range of replacement filter products to be sold through Pentair\u2019s existing Pool and Spa distribution channels as well as through Pleatco\u2019s distribution channels.\n<\/p>\n<p>\n\u201cWe are excited to expand our presence in the aftermarket filtration space with an enhanced product offering that advances our objective to offer an effortless pool experience for consumers,\u201d said John Stauch, Pentair President and CEO.\n<\/p>\n<p>\nThe planned acquisition also expands Pentair\u2019s Industrial Filtration portfolio, with complementary air filtration products to serve the needs of its industrial customers.\n<\/p>\n<p>\n\u201cWe look forward to welcoming the Pleatco employees to Pentair and to growing the relationship with Pleatco\u2019s existing customer base,\u201d continued Stauch. \u201cThe planned combination will provide Pleatco entry to Pentair\u2019s global distribution and sales channels, and deliver increased production capacity and utilization, as well as build on Pleatco\u2019s track record of product innovation.\u201d\n<\/p>\n<p>\nTotal consideration for the transaction is approximately $255 million in cash, subject to customary adjustments. Pentair expects Pleatco to generate approximately $95 million of annual revenue in 2021. The transaction is expected to be accretive in its first full year.\n<\/p>\n<p>\nThe acquisition is anticipated to be completed in the fourth quarter, subject to customary closing conditions and necessary regulatory approvals, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.\n<\/p>\n<p><b>ABOUT PENTAIR PLC<\/b><\/p>\n<p>\nPentair makes the most of life\u2019s essential resources. From our residential and business solutions that help people move, improve and enjoy their water, to our sustainable innovations and applications, we deliver smart, sustainable solutions for life.\n<\/p>\n<p>\nPentair had revenue in 2020 of $3 billion, and trades under the ticker symbol PNR. With approximately 9,750 global employees serving customers in more than 150 countries, we work to help improve lives and the environment around the world. To learn more, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.pentair.com%2F%3Futm_source%3DBizWire%26utm_medium%3Dexternal%26utm_content%3Dboilerplate&amp;esheet=52492218&amp;newsitemid=20210915005561&amp;lan=en-US&amp;anchor=pentair.com&amp;index=1&amp;md5=a993c7496f21d246d58a8ad6c48bf334\">pentair.com<\/a>.\n<\/p>\n<p><b>ABOUT PLEATCO FILTRATION<\/b><\/p>\n<p>\nPleatco is a leading designer and manufacturer of aftermarket pleated filter cartridges, pleated bags, and other filtration products for the industrial air and pool \/ spa markets across USA and Europe. Pleatco Filtration brings together the combined forces of former brands APEL, Milton, and TVS and incorporates stand-alone brands Guardian Filtration, EFI and ECO Filtration under the one umbrella, leveraging collective engineering, manufacturing, and logistics resources to deliver best-in-class products backed by industry leading sales, marketing, and customer service teams. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.pleatco.com%2F&amp;esheet=52492218&amp;newsitemid=20210915005561&amp;lan=en-US&amp;anchor=pleatco.com&amp;index=2&amp;md5=ceca83248ad445da1441d73b02baa7e2\">pleatco.com<\/a>.\n<\/p>\n<p><b>CAUTION CONCERNING FORWARD-LOOKING STATEMENTS <\/b><\/p>\n<p>\nThis release contains statements that we believe to be \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. All statements made about the anticipated acquisition, including the anticipated time for completing the transaction, the expected financial results of the acquired business and the anticipated benefits of the acquisition, are forward-looking statements subject to risks and uncertainties, such as the company\u2019s ability to satisfy closing conditions, integrate the acquisition successfully, and retain customers and employees of the acquired business; the impact, duration and severity of the COVID-19 pandemic, virus variants and vaccination rates, including actions that may be taken by us, other businesses and governments to address or otherwise mitigate the impact of the COVID-19 pandemic and the negative impacts of the COVID-19 pandemic on the global economy; overall global economic and business conditions; supply, demand, logistics, competition and pricing pressures related to and in markets we serve; failure of markets to accept new product introductions and enhancements; the impact of raw material costs, labor costs and other inflation; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations and the impact of changes in laws, regulations and administrative policy, 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, 2020. 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.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210915005561r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210915005561\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210915005561\/en\/<\/a><\/span><\/p>\n<p>\nJim Lucas<br \/>\n<br \/>Senior Vice President, Treasurer, FP&amp;A and Investor Relations<br \/>\n<br \/>Tel: 763-656-5575<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:jim.lucas@pentair.com\">jim.lucas@pentair.com<\/a><\/p>\n<p>\nRebecca Osborn<br \/>\n<br \/>Senior Manager, External Communications<br \/>\n<br \/>Tel: 763-656-5589<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:rebecca.osborn@pentair.com\">rebecca.osborn@pentair.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Europe United States United Kingdom North America Minnesota<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Energy Environment Other Construction &amp; Property Manufacturing Energy Construction &amp; Property Other Manufacturing<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210915005561\/en\/678811\/3\/Pentair_Logo_Color_RGB.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Pentair Announces Definitive Agreement to Acquire Pleatco Acquisition to Expand Pentair\u2019s Aftermarket Presence in Water and Air Filtration LONDON&#8211;(BUSINESS WIRE)&#8211; Pentair plc (NYSE: PNR), a leading provider of water treatment and sustainable solutions, today announced that it has entered into a definitive agreement to acquire Pleatco, a manufacturer of water filtration and clean air technologies for pool, spa and industrial air customers. Pleatco is a current portfolio company of Align Capital Partners, a private equity firm with investment teams in Dallas, TX and Cleveland, OH. The planned acquisition of Pleatco provides Pentair an expanded range of replacement filter products to be sold through Pentair\u2019s existing Pool and Spa distribution channels as well as through Pleatco\u2019s distribution channels. \u201cWe are excited &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pentair Announces Definitive Agreement to Acquire Pleatco&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-538358","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pentair Announces Definitive Agreement to Acquire Pleatco - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pentair Announces Definitive Agreement to Acquire Pleatco - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Pentair Announces Definitive Agreement to Acquire Pleatco Acquisition to Expand Pentair\u2019s Aftermarket Presence in Water and Air Filtration LONDON&#8211;(BUSINESS WIRE)&#8211; Pentair plc (NYSE: PNR), a leading provider of water treatment and sustainable solutions, today announced that it has entered into a definitive agreement to acquire Pleatco, a manufacturer of water filtration and clean air technologies for pool, spa and industrial air customers. Pleatco is a current portfolio company of Align Capital Partners, a private equity firm with investment teams in Dallas, TX and Cleveland, OH. The planned acquisition of Pleatco provides Pentair an expanded range of replacement filter products to be sold through Pentair\u2019s existing Pool and Spa distribution channels as well as through Pleatco\u2019s distribution channels. \u201cWe are excited &hellip; Continue reading &quot;Pentair Announces Definitive Agreement to Acquire Pleatco&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-15T10:53:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210915005561r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pentair-announces-definitive-agreement-to-acquire-pleatco\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pentair-announces-definitive-agreement-to-acquire-pleatco\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pentair Announces Definitive Agreement to Acquire Pleatco\",\"datePublished\":\"2021-09-15T10:53:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pentair-announces-definitive-agreement-to-acquire-pleatco\\\/\"},\"wordCount\":823,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pentair-announces-definitive-agreement-to-acquire-pleatco\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210915005561r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pentair-announces-definitive-agreement-to-acquire-pleatco\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pentair-announces-definitive-agreement-to-acquire-pleatco\\\/\",\"name\":\"Pentair Announces Definitive Agreement to Acquire Pleatco - 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Pleatco is a current portfolio company of Align Capital Partners, a private equity firm with investment teams in Dallas, TX and Cleveland, OH. The planned acquisition of Pleatco provides Pentair an expanded range of replacement filter products to be sold through Pentair\u2019s existing Pool and Spa distribution channels as well as through Pleatco\u2019s distribution channels. \u201cWe are excited &hellip; Continue reading \"Pentair Announces Definitive Agreement to Acquire Pleatco\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/","og_site_name":"Market Newsdesk","article_published_time":"2021-09-15T10:53:07+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210915005561r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pentair Announces Definitive Agreement to Acquire Pleatco","datePublished":"2021-09-15T10:53:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/"},"wordCount":823,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210915005561r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pentair-announces-definitive-agreement-to-acquire-pleatco\/","name":"Pentair Announces Definitive Agreement to Acquire Pleatco - 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