Pentair acquires Porous Media water filtration company for $225M

Global water company Pentair (NYSE: PNR) announced today it plans to acquire Porous Media, a privately held Minnesota water technology company, for $225 million.

The company says the acquisition accelerates its water strategy by strengthening its filtration and separation technology portfolio and extends its reach into attractive new markets.

"Porous Media is a compelling strategic fit with our existing water business," said Randall J. Hogan, chairman and chief executive officer. "We will leverage Porous Media’s filtration and separation technologies across Pentair’s existing water customers, especially in markets outside of North America."

"For example, we believe Porous Media’s oil separation technologies, developed for the petrochemical market, will effectively address unmet needs for our existing wastewater reuse and recovery customers globally," he said.

Pentair said the acquisition also brings strong technical talent to its water group, including engineering, material science, media development and application capabilities.

Porous Media’s product portfolio includes high-performance filter media, membranes and related filtration products and purification systems for liquids, gases and solids for the general industrial, petrochemical, refining and healthcare market segments, among others.

Consumable products represent more than 80 percent of Porous Media’s sales, and provide an established base of recurring revenue, according to Pentair.

The transaction is expected to close in the second quarter of 2007.

Pentair's water group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. With 2006 revenues of $3.15 billion, Pentair employs approximately 15,000 people worldwide.

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