Headquartered in Schaffhausen, Switzerland, the Pentair Valves & Controls business has almost 7,500 employees around the world.
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Emerson Electric Co. has agreed to buy Pentair PLC’s valves-and-controls unit for $3.15 billion, part of a strategy to expand its automation offerings.
The deal will boost Emerson’s efforts to build a larger automation portfolio by providing a global presence in control and pressure-relief valves, according to a statement by the company Thursday. With product brands like Anderson-Greenwood, Crosby, Vanessa, Keystone and Biffi, Pentair Valves & Controls has been a global leader in providing valve solutions for customers.
In lieu of a spinoff, Emerson said on August 2 that it would sell the network-power unit to investors including Platinum Equity for about $4 billion.
The unit generates annual revenue of $1.84 billion and employs almost 7,500 people globally.
The deal, which is subject to customary closing conditions and necessary regulatory approvals, is expected to be completed by the end of this year or early 2017.
The company said in 2014, as it reincorporated in Ireland, that Ireland’s common law jurisdiction was more in line with the U.S. than Switzerland’s civil law regime – making it easier to execute mergers and acquisitions, pay dividends and carry out other functions.
Pentair said the sale will help it focus on its three remaining segments: water quality systems, flow and filtration solutions, and technical solutions.
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Pentair’s valves and controls business is headquartered in Schaffhausen, Switzerland, and had revenue of $1.84 billion in 2015.
