Pentair buys Tyco's flow control businessApril 10, 2012
In a move that combines two of the biggest players in water and fluid products systems, Pentair recently announced that it’s combining its operations with Tyco's flow control business. The Associated Press reported that the deal is worth about $4.53 billion.
The combined company will retain the Pentair, Inc. name and that company's CEO will remain in place. The terms of the deal do stipulate that two Tyco International Ltd. nominees will join the board. Tyco shareholders will own about 52.5 percent of the combined company and Pentair shareholders will own about 47.5 percent, the AP reported.
Tyco announced a plan last year to into three separate companies, including one for flow control products. The company sells valves and controls for energy, mining and water markets. It also designs and installs heat management systems from the energy and general process industries.
Pentair said the addition of Tyco's business will boost its global reach and give it greater access to developed and fast growth regions, while also allowing it to capitalize on growth trends in the energy, infrastructure and industrial sectors. Minneapolis-based Pentair's water and fluid solutions business makes products and systems for use in the movement, storage and treatment of water for residential, industrial, commercial, municipal, and agricultural uses.