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| Type | Public (NYSE: PNR) |
|---|---|
| Founded | Arden Hills, Minnesota (July 6, 1966) [1] [2] |
| Founder(s) | Murray Harpole [3] |
| Headquarters | Golden Valley, Minnesota, United States |
| Area served | Worldwide |
| Key people | Murray Harpole (Founder) Randall J. Hogan (Chairman, CEO) Louis L. Ainsworth (Senior Vice President) Frederick S. Koury (Senior Vice President) |
| Industry | Water Filtration Spa and Pool Technology Water flow technology |
| Revenue | ▲ US$ 3.398 Billion (2007)[4] |
| Operating income | ▲ US$ 1.024 Billion (2007)[4] |
| Net income | ▲ US$ 210.927 Million (2007)[4] |
| Employees | 16,000 Worldwide (2008)[5] |
| Website | Pentair.com |
Pentair, Inc. is a Golden Valley, Minnesota based company focused on water technologies and enclosures for electronic products. Its Water Technologies Group provides products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Its Technical Products Group designs and manufactures standard, modified, and custom enclosures that house and protect sensitive electronics and electrical components. Pentair has approximately 15,000 employees worldwide. Pentair has grown from $100 million in sales in 1995 to $2.95 billion in 2005[6][7] and revenues from continuing operations in 2006 were $3.15 billion.[4]
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Water Technologies Group
Pentair's water unit makes well pumps, sump pumps, and valves for water softeners, as well as pool and spa equipment (pool cleaners, heaters, spa fittings, filters, and thermometers). The Pentair Water Spa and Bath division manufactures pumps, fittings, and related components for the hot tub, and whirlpool bath industries.
Technical Products Group
Its technical products (formerly enclosures) division makes Hoffmann and Schroff protective housings and accessories for electronic controls and instruments.
Acquisitions
2004: WICOR Industries, the former water systems subsidiary of Wisconsin Energy. WICOR made water pumps, filters, and pool equipment components under the Sta-Rite, SHURflo, and Hypro brands and was bought for $850 million.[8]
2005: Some of the assets of APW were bought for $144 million. Which included Mclean Thermal Management, Aspen Motion Technologies, and Electronic Solutions, [7] all of which provide thermal management products and integration services to the telecom, medical, and security industries. This broadened Pentair's technical products line to include markets outside of the traditional electrical and electronics businesses.
In 2006 Pentair purchased Germany-based Jung Pumpen GmbH,[9][6] which makes pumps and other products for wastewater processing. The deal was completed in early 2007 for $227 million.[10]
Other acquisitions in 2005 and 2006 included Acu-Trol, Inc.,[11] Delta Environmental Products, selected assets of Krystal Klear, and a 70% stake in Beijing Jieming Tiandi Environmental Equipment. Which was later renamed to Beijing Pentair Water Jieming, and produces fiberglass-reinforced pressure tanks and filters.
The company has announced an agreement to acquire water filtration and separation firm Porous Media for approximately $225 million and has said that it plans to continue an active course of acquisitions, especially to grow its business outside the US.
Pentair is also the holding company of several divisions, including Sta-Rite,[11][12][13] the manufacturer of the product involved in the death of Abigail Taylor.[14] Her accident led to the Virginia Graeme Baker Pool and Spa Safety Act, which was approved by the United States Congress and imposed a ban on the manufacture, sale or distribution of drain covers that don't meet anti-entrapment safety standards.[15][16]
Discontinued operations
Pentair has discontinued its Century/Lincoln and Lincoln Industrial service equipment operations. It also exited the tools business with the sale of its power tools group (which had previously accounted for 40% of sales) in October 2004 to Black & Decker for nearly $800 million [11]. Pentair then used that money to pay off much of the WICOR acquisition.
External links
References
- ^ Pentair company profile at Funding Universe
- ^ Company Profile at Reuters
- ^ Pentair mentions its founder
- ^ a b c d Yahoo finance, Pentair revenue 2007
- ^ Pentair Official site
- ^ a b "Pentair Expands European Pump Presence with Acquisition of Jung Pumpen GmbH". Find Articles/Bussiness Wire. December 11 2006. http://findarticles.com/p/articles/mi_m0EIN/is_2006_Dec_11/ai_n16883893. Retrieved on 2008-10-01.
- ^ a b "Pentair acquires thermal management company". EETimes. October 17 2005. http://www.eetimes.com/news/latest/showArticle.jhtml?articleID=172301401. Retrieved on 2008-10-01.
- ^ "Pentair Completes Acquisition of WICOR Industries". PRNewswire. August 2 2004. http://www.prnewswire.co.uk/cgi/news/release?id=127644. Retrieved on 2008-10-01.
- ^ "Pentair affirms 2007 profit target, updates Jung Pumpen deal". Marketwatch (The Wall Street Journal). February 6 2007. http://www.marketwatch.com/news/story/pentair-affirms-2007-profit-target/story.aspx?guid={C9C076BA-E88E-4C16-8F43-D0882D299C10}. Retrieved on 2008-10-01.
- ^ "Pentair Inc · 10-K · For 12/31/06". SEC Info: pp. 5. December 12 2006. http://www.secinfo.com/dsvRm.u2mj.htm. Retrieved on 2008-10-01.
- ^ a b c "Pentair Buys Acu-Trol". Pool and Spa News. September 18 2006. http://www.poolspanews.com/2006/092/092topnews.html. Retrieved on 2008-10-01.
- ^ Pentair
- ^ Sta-rite
- ^ Glass, Doug (March 24 2008). "Girl, 6, Dies From Swimming Pool Injury". The Seattle Times. http://seattletimes.nwsource.com/html/nationworld/2004296997_appoolinjury.html. Retrieved on 2008-10-01.
- ^ "President Bush Signs Into Law the Virginia Graeme Baker Pool and Spa Safety Act of...". Reuters. December 19 2007. http://www.reuters.com/article/pressRelease/idUS214536+19-Dec-2007+PRN20071219. Retrieved on 2008-10-01.
- ^ "Accident involving 6-year-old led to federal legislation to make pools safer". MSNBC. March 21 2008. http://www.msnbc.msn.com/id/23744434/. Retrieved on 2008-10-01.
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