Pentair plc (NYSE: PNR), Manchester, UK, has agreed to acquire ERICO Global Company, Solon, OH, for $1.8 billion.
ERICO, with 1,200 employees in 30 countries, is a manufacturer and marketer of engineered electrical and fastening products for electrical, mechanical and civil applications.
The acquisition will broaden Pentair's product offering and enable the company to provide more global solutions to its end users. ERICO will become a key growth platform within Pentair's technical solutions reporting segment.
