Pentair Acquires Norit Clean Processing Technologies Division

Pentair has signed a definitive agreement with Norit Holding for the acquisition of its Clean Processing Technologies (CPT) division.

Under the terms of the contract, Pentair will make a payment of €503m ($705m) plus net debt at closing to Norit.

Pentair intends to fund the transaction with a combination of cash, revolving credit facility funding and investment grade financing.

Pentair chairman and CEO Randall Hogan said that with its membrane technologies, CPT provides components, systems and services that will increase the company’s capabilities and that this acquisition will position Pentair as a leader in the attractive food and beverage sector.