Pentair

History

Year	Detail
1966	Pentair was founded in 1966 by five men who intended to manufacture high-altitude balloons in suburban St. Paul, Minnesota.
1968	The company acquired a manufacturer of absorbent tissue paper, Peavey Paper Mills, and entered the paper industry.
1981	The company acquired the Porter-cable Electric Power Tools brand and entered the tools market.
1988	Pentair acquired Hoffman Engineering Company to purchase FC Holdings Inc., the holding company for Federal Cartridge and Hoffman Engineering. The acquisition cost $175 million in cash and the assumption of debt.
1994	The company acquired Schroff Group, a manufacturer of electrical enclosures, for $150 million and entered the European market.
2004	The company entered the water business by acquiring Wicor Industries for $850 million on February 4, 2004.
2007	Pentair, the Pentair Foundation, and Water Mission partnered on a Project Safewater initiative in Honduras.
2017	The company acquired Union Engineering A/S, headquartered in Fredericia, Denmark, which specializes in sustainable technologies for capturing, recovering, and purifying carbon dioxide.
2018	The company separates its Water and Electrical businesses into two industry-leading public companies; the water business retains the Pentair name and ticker symbol PNR.
2019	Pentair expanded its residential water treatment offerings by acquiring Pelican Water Systems and Aquion.
2022	The company acquired Manitowoc Ice, a provider of commercial ice makers, from Welbilt, Inc., for $1.6 billion.
2024	The company announced a collaboration with Minneapolis-St. Paul International Airport (MSP) to sustainably deliver drinking water while reducing the need for single-use plastic water bottles for travelers who visit and fly through the airport.