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Pentair splits into two
Pentair plans to separate into two independent, publicly-traded companies: standalone Water and Electrical businesses.
"We have built two strong, high-performing businesses with the operating acumen and culture to thrive as two independent companies," said Randall J. Hogan, Pentair Chairman and Chief Executive Officer. "Separating Water and Electrical to create two pure-play companies is the next logical step in the evolution of Pentair and is consistent with our strategy to continually enhance shareholder value. Both companies will have the focus, talent and flexibility to grow profitably, both organically and through acquisitions."
The proposed transaction will create:
- A global water company ("Water") focused on smart, sustainable water and fluid processing applications. Strategic business groups include Filtration & Process, Flow Technologies and Aquatic & Environmental Systems. The company will retain the Pentair name. Water generated approximately USD 2.8 billion in sales in 2016.
- A electrical company ("Electrical") focused on improving utilization, lowering costs and maximizing customer uptime. Strategic business groups include Enclosures, Thermal Management and Electrical & Fastening Solutions. The company will be named at a later date. Electrical generated approximately USD 2.1 billion in sales in 2016.