Emerson pumps $3.1bn into valves
25 Oct 2016
Emerson Process Management has signed an agreement to acquire Pentair’s valves and control arm in a deal worth $3.15 billion (£2.4bn).
The deal establishes Emerson’s global presence in control, isolation, pressure relief valves and actuation as part of a larger strategy to build a broader automation portfolio, the company said.
Emerson chief executive officer David Farr said: “This acquisition delivers on our strategic plan of investing in automation solutions and in markets where we have a global leadership position and see significant long-term growth opportunities.
“By adding Pentair’s Valves & Controls leading technologies and services to our already broad portfolio, we have positioned our businesses to grow while continuing to provide our customers around the world with more complete solutions to their toughest challenges.”
The acquisition follows a number of recent divestitures totalling $5.2 billion (£3.8bn), which is part of a “portfolio repositioning” that was initiated in June 2015, Emerson said.
The Pentair deal is expected to close in the next four to six months, subject to various regulatory approvals, Emerson added.
