Pentair expands European pump presence with acquisition of Jung Pumpen GmbH
Pentair agrees to buy assets of the leading German manufacturer of wastewater products for the municipal and residential markets. It brings strong application engineering expertise and complementary products, including a new line of water re-use equipment, submersible wastewater and drainage pumps, wastewater disposal units and tanks. And it offers a well-known European presence, state-of-the-art training facility in Germany, and sales offices in Austria, France, Hungary, Poland and Slovakia...
GOLDEN VALLEY, MN, Dec. 11, 2006 -- Pentair today announced that it has reached a definitive agreement to acquire the assets of Jung Pumpen, a leading German manufacturer of wastewater products for the municipal and residential markets. Jung brings to Pentair its strong application engineering expertise, and a complementary product offering, including a new line of water re-use products, submersible wastewater and drainage pumps, wastewater disposal units and tanks. Jung also brings to Pentair its well-known European presence, a state-of-the-art training facility in Germany, and sales offices in Austria, France, Hungary, Poland and Slovakia.
"Pentair Water expands its reach into the European wastewater market with the addition of Jung," said Richard Cathcart, Pentair vice chairman. "We view the wastewater market as an attractive growth opportunity ¿ especially in Eastern Europe, where environmental considerations, new regulations and improving infrastructure are accelerating the connection rates of homes to municipal infrastructure."
Cathcart said that with Jung's strong distribution, sales and service network, Pentair will be positioned to more effectively serve the European market with both the Jung line and the Company's Hydromatic® offering. Hydromatic is an industry-leading, diversified line of submersible sump, sewage, effluent, and grinder pumps, large non-clog pumps and self primers.
The transaction is subject to receipt of approval from the German Federal Cartel Office and is expected to be completed in early 2007. No additional terms were disclosed.
Pentair (www.pentair.com) is a diversified operating company headquartered in Minnesota. Its Water Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Pentair's Technical Products Group is a leader in the global enclosures market, designing and manufacturing standard, modified, custom and thermal enclosures that house and protect sensitive electronics and electrical components. With 2005 revenues of $2.95 billion, Pentair has approximately 15,000 employees worldwide.