Pentair (UK) takes over Erico (USA)
Pentair is taking over Erico – including all its liabilities – for USD 1.8 bn (EUR 1.6 bn), which means that the price corresponds to 12 times its EBITDA forecast for 2015.
The transaction is to be concluded before the end of this year and still has to be approved by the cartel authorities.
Erico has its headquarters in Solon/USA and employs approx. 1,200 people in 30 countries. Its best-known brand names are Caddy, Lenton and Erico, which fit excellently into Pentair’s product portfolio.
Pentair is domiciled in Manchester/UK and employs approx. 30,000 employees all over the world, making a turnover of USD 7.0 bn (EUR 6.3 bn) in 2014.