Pentair announced that it has completed the acquisition of DeLand-headquartered Pelican Water Systems for $120m.
Image: Pelican Water Systems offers residential whole home water treatment systems. Photo courtesy of rawpixel on Unsplash.
Employing 79 people, Pelican Water Systems offers residential whole home water treatment systems.
Pentair president and CEO John Stauch said: “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.”
The acquisition of Pelican Water Systems is expected to boost Pentair’s business by providing new growth opportunities through both its innovative products and its multi-channel approach.
Global investment banking advisory firm Lincoln International served as the exclusive sell-side advisor to Pelican Water Systems in the transaction.
Stauch earlier said: “This planned acquisition is one of the key elements of our strategy to expand our core water treatment products in the residential home water business.
“Consumers today are increasingly concerned about water quality and want to be empowered to improve the health of their water. Pelican Water Systems adds new and complementary products and services to the Pentair portfolio to better meet our consumers’ residential water needs.”
In January, Pentair had also entered into a definitive agreement to acquire Aquion for $160m in cash, subject to customary adjustments.
Aquion provides a diverse line of water conditioners, water filters, drinking-water purifiers, ozone and ultraviolet disinfection systems, reverse osmosis systems and acid neutralizers for the residential and commercial water treatment industry.
The acquisition is expected to complement Pentair’s value chain in residential water offerings.
Subject to customary closing conditions and necessary regulatory approvals, the acquisition transaction was expected to be completed in the first quarter of 2019,
Pentair offers a range of smart, sustainable water solutions to homes, business and industry around the world.
With a revenue of $2.8bn in 2017, the water treatment company operates in nearly 130 locations in 34 countries, employing 10,000 people.