Pentair’s electrical division becomes nVent
Pentair is an Irish conglomerate with its headquarters in Dublin, and operates mainly in the two fields of water and electrical.
The decision has been made to divide the firm into two separate, independent companies, and this is to be finalized by the 2nd quarter 2018. The water activities retain the name of Pentair, while the electrical division is to be converted into “nVent” Electric.
nVent will employ approx. 9,000 people around the world and the main brand names within this new unit are Caddy, Erico, Hoffman, Raychem, Schroff and Tracer. The turnover figure as at the end of 2016 amounted to USD 2.1 bn (EUR 1.8 bn).
After the division Beth A. Wozniak will become the CEO of nVent while the area of finances will be taken over by Stacy McMahan, a newcomer to the team from outside.
Randall J. Hogan will resign from his offices at Pentair after the division to enter nVent as its chairman.