Pentair acquired the Valves & Controls business in 2012 through an all-stock merger with the Flow Control business of Tyco International Ltd.
Randall Hogan, Pentair chairman and CEO, said: “We expect this transaction to provide Pentair the ability to advance our strategy, drive growth, and focus resources on three segments, all of which we believe have attractive growth characteristics.”
When the transaction closes, Pentair’s business will consist of three segments: Water Quality Systems, Flow & Filtration Solutions, and Technical Solutions.
“We remain narrowly diversified, which allows us to prioritise investments and affords us opportunities to grow organically and use our strengthened balance sheet as opportunities arise,” said Hogan.