MINNEAPOLIS, MN and CAXIAS DO SUL, Brazil, Dec. 17, 2010 -- Pentair Inc., a global leader in water products and systems, today announced an agreement to acquire Hidro Filtros do Brasil, a leading manufacturer of water filters and filtering elements for residential and industrial applications operating in Brazil and neighboring countries. Hidro Filtros will operate under the brand name "Pentair Hidro Filtros" and will be positioned within Pentair Residential Filtration, a division of Pentair.
"The acquisition of Hidro Filtros strengthens our position in the water filtration market in Latin America, a key growth region for Pentair," said Alok Maskara, president of Pentair Residential Filtration, LLC. "Hidro Filtros, a company highly respected for its innovation, provides an expanding portfolio of new solutions for improving water quality for people in Brazil and neighboring countries. With the addition of Hidro Filtros, Pentair will be better positioned to support market trends and serve customers in Latin America through expanded channels, a stronger sales organization and local manufacturing capabilities.
"The value proposition of our combined companies is significant," added Claudio Chaves, director of Hidro Filtros. "The union of Hidro Filtros with Pentair will allow us to serve customers with a more extensive product portfolio offering a wide range of high quality certified products through an expanded distribution network."
Hidro Filtros' headquarters and manufacturing facility is in Caxias do Sul, in the state of Rio Grande do Sul. The company employs approximately 140 people and had sales of more than $12 million during the last 12 months. Terms of the agreement were not disclosed, and the transaction is expected to close in the beginning of 2011.
About Pentair Inc.
Pentair Inc. (NYSE: PNR), www.pentair.com, is a global diversified industrial company headquartered in Minneapolis, Minn. Pentair's Water Group develops products and systems used for movement, treatment, storage and enjoyment of water. Pentair's Technical Products Group designs and manufactures products to protect sensitive electronics and the people who use them. With 2009 revenues of $2.7 billion, Pentair employs approximately 13,500 people worldwide.
About Pentair Residential Filtration
Pentair Residential Filtration (www.pentairaqua.com), a division of Pentair, provides a wide range of high quality components and systems designed to meet residential water quality needs worldwide. Under strong brands and product names such as GE, Everpure, Homespring by GE, PENTEK, Fleck, Autotrol, Structural, WellMate, American Plumber and OMNIFilter. The company offers a broad product portfolio ranging from filter housings, filter cartridges and drinking water systems, to pressure vessels, softener/filter control valves and water conditioning systems. Pentair Residential Filtration is a joint venture between Pentair and General Electric and is licensed to use the GE brand name for residential water products sold worldwide.
About Hidro Filtros do Brasil
Hidro Filtros do Brasil is a pioneer in water filtration technologies in Brazil with partners throughout Latin America. The company was the first to develop its own technology for the production of polypropylene filter elements, through the process of Melt Blown, which turned it into an important partner in the domestic market in the areas of filtration and purification of fluids with high efficiency. Hidro Filtros is among the fastest growing companies in filtration in Brazil.