Pentair plc has entered into a definitive agreement to acquire Pleatco, a US manufacturer of water filtration and clean air technologies for pool, spa and industrial air applications, in a US$255 million cash transaction.
Pleatco, a portfolio company of private equity firm Align Capital Partners, designs and manufactures aftermarket pleated filter cartridges, pleated bags and other filtration products for markets across the USA and Europe.
The acquisition of Pleatco will give Pentair an expanded range of replacement filter products to be sold through both companies’ distribution channels.
“We are excited to expand our presence in the aftermarket filtration space with an enhanced product offering that advances our objective to offer an effortless pool experience for consumers,” said John Stauch, Pentair president and CEO.
The planned acquisition also expands Pentair’s Industrial Filtration portfolio, with complementary air filtration products.
“We look forward to welcoming the Pleatco employees to Pentair and to growing the relationship with Pleatco’s existing customer base,” added Stauch. “The planned combination will provide Pleatco entry to Pentair’s global distribution and sales channels, and deliver increased production capacity and utilisation, as well as build on Pleatco’s track record of product innovation.”
Pentair expects Pleatco to generate approximately US$95 million of annual revenue in 2021.
The acquisition is expected to close in the fourth quarter of 2021.
