Pentair

Infobox Company
company_name = Pentair, Inc.
company_
company_type = Public (NYSE|PNR)
foundation = Arden Hills, Minnesota (Start date|1966|07|06) [http://www.fundinguniverse.com/company-histories/Pentair-Inc-Company-History.html Pentair company profile at Funding Universe] [ [http://www.reuters.com/finance/stocks/companyProfile?symbol=PNR.N&rpc=66 Company Profile at Reuters] ]
founder = Murray Harpole [ [http://www.pentair.com/About-Us/Our-Values.aspx Pentair mentions its founder] ]
location= Golden Valley, Minnesota, United States
area_served = Worldwide
key_people = Murray Harpole (Founder)
Randall J. Hogan (Chairman, CEO)
Louis L. Ainsworth (Senior Vice President) Frederick S. Koury (Senior Vice President)
industry = Water Filtration
Spa and Pool Technology
Water flow technology
revenue=profit US$ 3.398 Billion ("2007") [http://finance.yahoo.com/q/is?s=PNR&annual Yahoo finance, Pentair revenue 2007] ]
operating_income = profit US$ 1.024 Billion ("2007")
net_income = profit US$ 210.927 Million ("2007")
num_employees = 16000 Worldwide ("2008") [http://www.pentair.com Pentair Official site]
homepage = [http://www.pentair.com/worldwide/ Pentair.com]

Pentair, Inc. is a Golden Valley, Minnesota based company focused on water technologies and enclosures for electronic products. Its Water Technologies Group provides products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Its Technical Products Group designs and manufactures standard, modified, and custom enclosures that house and protect sensitive electronics and electrical components. Pentair has approximately 15,000 employees worldwide. Pentair has grown from $100 million in sales in 1995 to $2.95 billion in 2005 cite news | title=Pentair Expands European Pump Presence with Acquisition of Jung Pumpen GmbH | date=December 11 2006 | url =http://findarticles.com/p/articles/mi_m0EIN/is_2006_Dec_11/ai_n16883893 | work =Find Articles/Bussiness Wire | accessdate = 2008-10-01 ] cite news | first= | last= | coauthors= | title=Pentair acquires thermal management company | date=October 17 2005 | publisher= | url =http://www.eetimes.com/news/latest/showArticle.jhtml?articleID=172301401 | work =EETimes | pages = | accessdate = 2008-10-01 | language = ] and revenues from continuing operations in 2006 were $3.15 billion.

Water Technologies Group

Pentair's water unit makes well pumps, sump pumps, and valves for water softeners, as well as pool and spa equipment (pool cleaners, heaters, spa fittings, filters, and thermometers). The Pentair Water Spa and Bath division manufactures pumps, fittings, and related components for the hot tub, and whirlpool bath industries.

Technical Products Group

Its technical products (formerly enclosures) division makes Hoffmann and Schroff protective housings and accessories for electronic controls and instruments.

Acquisitions

2004: WICOR Industries, the former water systems subsidiary of Wisconsin Energy. WICOR made water pumps, filters, and pool equipment components under the Sta-Rite, SHURflo, and Hypro brands and was bought for $850 million. [ cite news | title=Pentair Completes Acquisition of WICOR Industries | date=August 2 2004 | url =http://www.prnewswire.co.uk/cgi/news/release?id=127644 | work =PRNewswire | accessdate = 2008-10-01 ]

2005: Some of the assets of APW were bought for $144 million. Which included Mclean Thermal Management, Aspen Motion Technologies, and Electronic Solutions, all of which provide thermal management products and integration services to the telecom, medical, and security industries. This broadened Pentair's technical products line to include markets outside of the traditional electrical and electronics businesses.

In 2006 Pentair purchased Germany-based Jung Pumpen GmbH,cite news | title=Pentair affirms 2007 profit target, updates Jung Pumpen deal | date=February 6 2007 | publisher=The Wall Street Journal | url =http://www.marketwatch.com/news/story/pentair-affirms-2007-profit-target/story.aspx?guid={C9C076BA-E88E-4C16-8F43-D0882D299C10} | work =Marketwatch | pages = | accessdate = 2008-10-01 | language = ] which makes pumps and other products for wastewater processing. The deal was completed in early 2007 for $227 million.cite news | title=Pentair Inc · 10-K · For 12/31/06 | date=December 12 2006 | url =http://www.secinfo.com/dsvRm.u2mj.htm | work =SEC Info | pages =5 | accessdate = 2008-10-01 ]

Other acquisitions in 2005 and 2006 included Acu-Trol, Inc.,cite news | first= | last= | coauthors= | title=Pentair Buys Acu-Trol | date=September 18 2006 | publisher= | url =http://www.poolspanews.com/2006/092/092topnews.html | work =Pool and Spa News | pages = | accessdate = 2008-10-01 | language = ] Delta Environmental Products, selected assets of Krystal Klear, and a 70% stake in Beijing Jieming Tiandi Environmental Equipment. Which was later renamed to Beijing Pentair Water Jieming, and produces fiberglass-reinforced pressure tanks and filters.

The company has announced an agreement to acquire water filtration and separation firm Porous Media for approximately $225 million and has said that it plans to continue an active course of acquisitions, especially to grow its business outside the US.

Pentair is also the holding company of several divisions, including Sta-Rite, [ [http://www.pentairpool.com/index.htm Pentair] ] [ [http://www.starite.com/ Sta-rite] ] the manufacturer of the product involved in the death of Abigail Taylor,cite news | first=Doug | last=Glass | title=Girl, 6, Dies From Swimming Pool Injury | date=March 24 2008 | publisher= | url =http://seattletimes.nwsource.com/html/nationworld/2004296997_appoolinjury.html | work =The Seattle Times | pages = | accessdate = 2008-10-01 | language = ] Which led to the Virginia Graeme Baker Pool and Spa Safety Act, which was approved by the United States Congress and imposed a ban on the manufacture, sale or distribution of drain covers that don't meet anti-entrapment safety standards.cite news | title=President Bush Signs Into Law the Virginia Graeme Baker Pool and Spa Safety Act of... | date=December 19 2007 | url =http://www.reuters.com/article/pressRelease/idUS214536+19-Dec-2007+PRN20071219 | work =Reuters | accessdate = 2008-10-01 ] cite news | first= | last= | coauthors= | title=Accident involving 6-year-old led to federal legislation to make pools safer | date=March 21 2008 | publisher= | url =http://www.msnbc.msn.com/id/23744434/ | work =MSNBC | pages = | accessdate = 2008-10-01 | language = ]

Discontinued operations

Pentair has discontinued its Century/Lincoln and Lincoln Industrial service equipment operations. It also exited the tools business with the sale of its power tools group (which had previously accounted for 40% of sales) in October 2004 to Black & Decker for nearly $800 million . Pentair then used that money to pay off much of the WICOR acquisition.

External links

* [http://www.pentair.com Pentair corporate site]
* [http://www.pentairpool.com Pantair Pool]
* [http://www.fundinguniverse.com/company-histories/Pentair-Inc-Company-History.html complete company history]

References