Pentair plc said it plans to acquire water filtration and clean-air technologies manufacturer Pleatco for $255 million.
The acquisition provides Pentair an expanded range of replacement filter products to be sold through its existing pool and spa distribution channels along with Pleatco's.
It also expands Pentair's industrial filtration portfolio.
“We are excited to expand our presence in the aftermarket filtration space with an enhanced product offering that advances our objective to offer an effortless pool experience for consumers,” said John Stauch, Pentair president and CEO.
Pentair expects Pleatco to generate approximately $95 million of annual revenue in 2021.
Pleatco is a current portfolio company of Align Capital Partners, a private equity firm with investment teams in Dallas and Cleveland.
