Pentair says it has reached an agreement to sell its valves and controls business to Emerson for US$3.15 billion in cash, subject to customary working capital adjustments.
The transaction is anticipated to be completed late in 2016 or early in 2017 and is subject to customary closing conditions and necessary regulatory approvals.
Pentair acquired the valves and controls business in 2012 through an all-stock merger with the Flow Control business of Tyco International Ltd.
Valves and controls’ 2015 revenue was US$1.8 billion.
Following the closing of the transaction, Pentair’s business will consist of three segments, Water Quality Systems, Flow & Filtration Solutions, and Technical Solutions, aligned with global trends to deliver solutions around water quality and availability, equipment and building protection, industrial and process efficiency, and food and beverage processing.
