Pentair to acquire Manitowoc Ice

1 min read

Pentair plc has entered into a definitive agreement to acquire Manitowoc Ice, a provider of commercial ice makers, in a US$1.6 billion deal.

Image © Wira SHK - stock.adobe.com.
Image © Wira SHK - stock.adobe.com.

Manitowoc Ice, a portfolio brand of Welbilt Inc, designs, manufactures and distributes commercial ice machines. The company has facilities in Manitowoc, Wisconsin,USA; Monterrey, Mexico; and Hangzhou, China, and a global installed base of approximately 1 million units. Manitowoc Ice had 2021 revenues of US$308 million and employs more than 800 people.

Pentair says that the acquisition to enhance its Everpure commercial filtration solutions and commercial services network.

“We expect this strategic acquisition to be a game changer for our commercial water solutions platform, establishing a differentiated, total water management offering and expanded network within the foodservice industry,” said John Stauch, Pentair president and CEO.

“With the addition of Manitowoc Ice, we expect Pentair will have the opportunity to bring to our customers a total water management solution that optimises complementary portfolios through a large installed customer base in foodservice. Further, it will provide an additional growth engine for Pentair that augments our leading industry positions and innovative offerings, ultimately positioning us well for long-term value creation for our stakeholders,” added Stauch.