Pentair Completes Acquisition of Everpure
Pentair announced that it has completed the acquisition of water filtration products manufacturer, Everpure, from United States Filter Corporation, a unit of Veolia Environnement.
Pentair, which financed the acquisition through available lines of credit, expects the acquisition to be modestly accretive to its earnings in the first full year of ownership.
Everpure, Inc. (Northbrook, Illinois) is a leading global provider of water filtration products and services for the commercial and consumer sectors. Everpure products include a wide array of filtration systems and cartridges for various applications. The company expects net sales in 2003 to exceed $60.0 million.
Pentair, Inc. (NYSE: PNR) is a Minnesota-based manufacturer whose core businesses compete in water technology, enclosure and tool markets. The company employs approximately 12,000 people in more than 53 locations around the world.
Source: Pentair plc.