Tyco’s Flow Business Now Officially Pentair Valves & Controls
As of Sept. 28 Pentair and the flow control business of Tyco International have combined to create Pentair Ltd., an industrial growth company in water and fluid solutions, valves and controls, equipment protection and thermal management products.
#water-wastewater #controls #automation
Share
The merger was structured as a tax-free “Reverse Morris Trust” transaction. As a result of the distribution and merger, Tyco shareholders own approximately 52.5% and former Pentair, Inc. shareholders own approximately 47.5% of Pentair Ltd. on a diluted basis, with about 210 million shares outstanding.
The members of the Pentair, Inc. board of directors just before the merger, together with one new director designated by Tyco, are the members of the Pentair, Ltd. Board of Directors. In addition to Hogan, the Pentair, Inc. executive team remains in place as the senior executive team of the combined company.
Pentair Ltd. is incorporated in Switzerland with its main U.S. offices remaining in Minneapolis, MN. It delivers products, services and solutions for customer’s diverse needs in water and other fluids, thermal management and equipment protection.
RELATED CONTENT
-
VMA Welcomes CGIS as a New Distributor/Channel Partner (Associate) Member
CGIS is a global supplier of high-performance valves, controls and automation.
-
Coping with Supply Disruption and Demand Volatility
Manufacturers are currently experiencing unprecedented disruption of the supply chain on both the supplier side and the customer side.
-
National Compassion Fund and Mueller Water Products Establish Survivors’ Fund
In the wake of the Albertville tragedy, National Compassion Fund, a subsidiary of the National Center for Victims of Crime, announced the launch of the Albertville Survivors’ Fund with support from GoFundMe and Mueller Water Products.
