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Company hopes acquisition will allow it to expand in Latin American market
Pentair Inc. announced an agreement to acquire Hidro Filtros do Brasil, a leading manufacturer of water filters and filtering elements for residential and industrial applications operating in Brazil and neighboring countries. Hidro Filtros will operate under the brand name Pentair Hidro Filtros and will be positioned within Pentair Residential Filtration, a division of Pentair.
"The acquisition of Hidro Filtros strengthens our position in the water filtration market in Latin America, a key growth region for Pentair," said Alok Maskara, president of Pentair Residential Filtration. "Hidro Filtros, a company highly respected for its innovation, provides an expanding portfolio of new solutions for improving water quality for people in Brazil and neighboring countries. With the addition of Hidro Filtros, Pentair will be better positioned to support market trends and serve customers in Latin America through expanded channels, a stronger sales organization and local manufacturing capabilities.”
"The value proposition of our combined companies is significant," said Claudio Chaves, director of Hidro Filtros. "The union of Hidro Filtros with Pentair will allow us to serve customers with a more extensive product portfolio offering a wide range of high quality certified products through an expanded distribution network."
Hidro Filtros' headquarters and manufacturing facility is in Caxias do Sul, in the state of Rio Grande do Sul. The company employs approximately 140 people and had sales of more than $12 million during the last 12 months. Terms of the agreement were not disclosed, and the transaction is expected to close in the beginning of 2011.