Pentair To Acquire Pleatco From Align Capital Partners For $255 Mln Cash - Quick Facts

Sustainable water solutions provider Pentair plc (PNR) announced Wednesday that it has entered into a definitive agreement to acquire Pleatco from private equity firm Align Capital Partners for a total consideration of approximately $255 million in cash, subject to customary adjustments.

Pleatco is a manufacturer of water filtration and clean air technologies for pool, spa and industrial air customers.

The planned acquisition of Pleatco provides Pentair an expanded range of replacement filter products to be sold through Pentair's existing Pool and Spa distribution channels as well as through Pleatco's distribution channels.

The planned acquisition also expands Pentair's Industrial Filtration portfolio, with complementary air filtration products to serve the needs of its industrial customers.

The transaction is expected to be accretive in its first full year. The acquisition is anticipated to be completed in the fourth quarter, subject to customary closing conditions and necessary regulatory approvals.

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