Pentair Completes Acquisition of Everpure, Inc.
Pentair, Inc. completed the acquisition of water filtration products manufacturer, Everpure, Inc., of Northbrook, Ill., from United States Filter Corp., a unit of Veolia Environnement. Pentair, which financed the acquisition through available lines of credit, expects the acquisition to be modestly accretive to its earnings in the first full year of ownership.
Everpure ( http://www.everpure.com/ ) is a global provider of water filtration products and services for the commercial and consumer sectors. Everpure products include a wide array of filtration systems and cartridges for various applications. The company expects net sales in 2003 to exceed $60.0 million.
Pentair ( http://www.pentair.com/ ) is a Minnesota-based manufacturer whose core businesses compete in water technology, enclosure and tool markets. The company employs approximately 12,000 people in more than 53 locations worldwide.