Emerson to buy Valves & Controls unit from Pentair for $3.15bnStaff Writer | August 19, 2016
Emerson, an engineering and electronics company, has signed an agreement to purchase the Valves & Controls business of Pentair for $3.15 billion.
Acquisition After getting $5.2 billion from selling
“This acquisition delivers on our strategic plan of investing in Automation Solutions and in markets where we have a global leadership position and see significant long-term growth opportunities,” said chairman and chief executive officer David N. Farr.
“By adding Pentair’s Valves & Controls leading technologies and services to our already broad portfolio, we have positioned our businesses to grow while continuing to provide our customers around the world with more complete solutions to their toughest challenges.”
This transaction follows Emerson’s recently announced divestitures of Network Power, Leroy-Somer and Control Techniques for a total of $5.2 billion as part of the company’s overall strategic portfolio repositioning that was initiated in June 2015.
Headquartered in Schaffhausen, Switzerland, the Pentair Valves & Controls business has nearly 7,500 employees around the world.
The business has a large global installed base in chemical, petrochemical, oil and gas, power, mining and other process industries.
With product brands like Anderson-Greenwood, Crosby, Vanessa, Keystone and Biffi, Pentair Valves & Controls has been a global leader in providing valve solutions for customers. ■